UN discusses ethical tech and inclusion at IGF 2024

Speakers at IGF 2024 highlighted digital innovation within the United Nations system, demonstrating how emerging technologies are enhancing services and operational efficiency. Representatives from UNHCR, UNICEF, the UN Pension Fund, and UNICC shared their organisations’ progress and collaborative efforts.

Michael Walton, Head of Digital Services at UNHCR, detailed initiatives supporting refugees through digital tools. These include mobile apps for services and efforts to counter misinformation. Walton stressed the importance of digital inclusion and innovation to bridge gaps in education and access for vulnerable groups.

Fui Meng Liew, Chief of Digital Center of Excellence at UNICEF, emphasised safeguarding children’s data rights through a comprehensive digital resilience framework. UNICEF’s work also involves developing digital public goods, with a focus on accessibility for children with disabilities and securing data privacy.

Dino Cataldo Dell’Accio from the UN Pension Fund presented a blockchain-powered proof-of-life system that uses biometrics and AI in support of e-Government for the aging population. This system ensures beneficiaries’ security and privacy while streamlining verification processes. Similarly, Sameer Chauhan of UNICC showcased digital solutions like AI chatbots and cybersecurity initiatives supporting UN agencies.

The session’s collaborative tone extended into discussions of the UN Digital ID project, which links multiple UN agencies. Audience members raised questions on accessibility, with Nancy Marango and Sary Qasim suggesting broader use of these solutions to support underrepresented communities globally.

Efforts across UN organisations reflect a shared commitment to ethical technology use and digital inclusion. The panellists urged collaboration and transparency as key to addressing challenges such as data protection and equitable access while maintaining focus on innovation.

AI-Focused ETFs grow rapidly in 2024

The surge in AI exchange-traded funds (ETFs) reflects the growing investor enthusiasm for AI as fund managers launch new options to capture market interest. According to Morningstar, over a third of the AI-focused ETFs on the market were introduced in 2024, raising total assets in this category to $4.5 billion—close to the $5.5 billion held by nuclear-themed ETFs and far outpacing the $1.37 billion in cannabis funds. This growth is partially driven by high-profile gains, like chipmaker Nvidia’s stock surge of over 200% in the last year, which underscores AI’s profit potential, said Morningstar senior analyst Daniel Sotiroff.

BlackRock has added two new actively managed AI ETFs to its lineup, aiming to capture emerging opportunities in AI as the technology evolves. “The AI market is going to change dramatically,” noted Tony Kim of BlackRock, highlighting that what AI represents today will continue to shift. Bank of America analysts agree, describing the competition in AI among tech giants like Microsoft and Amazon as an “arms race.” This year, capital spending on AI by these firms is expected to total $206 billion, marking a 40% increase over last year, while venture capital funding for AI startups is projected to rise 27%, reaching $79.2 billion.

Despite the enthusiasm, AI-focused funds haven’t consistently outperformed the broader market; for instance, the Global X Artificial Intelligence & Technology ETF has gained about 20% in 2024, trailing the S&P 500’s 22% rise. Amplify ETFs recently shifted an existing cloud-computing ETF to focus on AI opportunities, illustrating the industry’s shift toward differentiating AI investment strategies. Nathan Miller of Amplify said that capturing the potential of AI-related capital spending remains a priority for long-term growth.