Leveraging AI to Transform Macroeconomic and Fiscal Policymaking in Latin America and the Caribbean by Oscar Valencia, Juan Camilo Díaz published by IDB (5/2024).
Macroeconomic and fiscal policy is at the brink of a transformative shift due to the integration of artificial intelligence (AI), which is poised to revolutionize fiscal governance and policy formulation in Latin America and the Caribbean (LAC). The technology’s potential to enhance the precision of economic forecasts, optimize budget allocations, and streamline tax administration is immense. However, it also introduces complexities that demand forward-thinking fiscal strategies.
This blog delves into how LAC nations are incorporating AI into their fiscal agendas and the profound implications it holds for their economic development. Furthermore, it offers strategic fiscal recommendations tailored for the LAC region to harness AI’s full potential to improve the effectiveness of such policies.
