A high-powered U.N. advisory body says global governance of artificial intelligence is “imperative” and is urging the United Nations to lay the foundations for the first inclusive global institutions to regulate the fast-growing technology.

New research from the International Data Corporation (IDC) predicts that business spending to adopt artificial intelligence (AI) will have a cumulative global economic impact of $19.9 trillion through 2030 and drive 3.

As the technology makes rapid progress, observers say it's 'imperative' to establish the foundations for inclusive global institutions to track its evolution and establish safeguards.

The UN advisory body stated that global governance of artificial intelligence is essential. It urged the United Nations to lay the groundwork for the first inclusive global institutions to regulate rapidly evolving technologies,