Iceland could be a leader in the responsible use of artificial intelligence

Áslaug Arna Sigurbjörnsdóttir, Minister of Universities, Industry, and Innovation, yesterday presented the Icelandic government's first action plan for artificial intelligence until the year 2026.

The actions that will contribute to Iceland, due to its small size, becoming a leader in the responsible use of artificial intelligence and creating opportunities, prosperity, and progress for all citizens are listed there.

"Artificial intelligence is not a distant future, but it is already useful to us to significantly improve the results of our work, and I think it is important to use this turning point to encourage everyone who has not started using some artificial intelligence tool to do so already," Sigurbjörnsdóttir is quoted in an announcement from the Council of Ministers.

130 thousand jobs will be greatly affected

The reality will change about 75% of all jobs, and Iceland's competitiveness on the international stage will therefore largely depend on how well we manage to adopt and use artificial intelligence.

In the analysis of the economic opportunities of artificial intelligence in Iceland, it is estimated that about 55% of jobs in Iceland, or about 130 thousand people, are considered likely to be greatly affected by artificial intelligence, but in total about 75% of jobs will be affected to some extent.

Analyzes also show that civil servants spend an average of 30% of their working time on tasks that could be automated with the help of artificial intelligence.

ISK 174 to 1,450 billion

Iceland's success in this field will depend on two factors: on the one hand, how powerful artificial intelligence will be, and on the other hand, how fast its general adoption will be in Iceland.

Gross domestic product in Iceland could increase by 0.8 to 6% annually until 2029, depending on how Iceland will fare in these two factors. In total, it is equivalent to 174 to 1,450 billion ISK.

Increased number of jobs and increased quality of life

With the right incentives, governments can contribute to a future where artificial intelligence contributes to the increase of jobs and increases the general quality of life in society.

International studies have thus demonstrated that greater economic benefits lie in using artificial intelligence to enhance staff rather than having automation as a guiding principle.

If this path is taken with the general introduction of artificial intelligence into Icelandic society, it is estimated that the benefits will be about 500 billion ISK more in 2038 than if all the emphasis were placed on using artificial intelligence to reduce the number of working hands.

Five pillars of the plan

The action plan is based on five pillars. The first three pillars, i.e. artificial intelligence for the benefit of all, a competitive working life, and education in line with the times, are based on Iceland's policy on artificial intelligence from 2021. Two pillars have been added: the use of artificial intelligence in the public sector and the introduction of artificial intelligence in the health system.

Among the goals of the program are:

• Increased general knowledge and skills in the field of artificial intelligence, e.g. with the increase in the number of students in artificial intelligence and data-related subjects at the university level.
• The digital infrastructure meets the needs for the use of artificial intelligence, e.g. with the continued development of telecommunications infrastructure and access to computing capacity.
• Better service, increased efficiency, and efficiency in the operation of the public sector, e.g. with the implementation of artificial intelligence solutions in the activities of the public sector.
• Improved healthcare through the introduction of artificial intelligence, e.g. with grants for the implementation of artificial intelligence solutions in healthcare.
• Digital, green transformation with the help of artificial intelligence, e.g. with support through public focus funds.