Kathmandu: A recent UN AI Advisory Body report has recommended the establishment of a global fund for artificial intelligence (AI) governance, highlighting the urgent need for a holistic approach to AI regulation as its rapid growth impacts various sectors of human life.

As AI's influence expands across industries—from labor to decision-making—the call for stronger oversight has intensified. The report emphasizes the necessity of human supervision in the design and deployment of AI systems to mitigate potential risks. While investors celebrate AI’s potential, concerns are growing over the potential for increasing inequality and regulatory challenges.

The UN report outlines a comprehensive global strategy to address these challenges, touching on areas like politics, human rights, and technical standards. It warns against a fragmented approach to AI governance, instead advocating for a coherent and interoperable framework based on international law and aligned with the Sustainable Development Goals (SDGs).

Among the report's key recommendations are the creation of an international scientific panel on AI, a policy dialogue on AI governance, and the establishment of a global AI data framework. The report also calls for capacity building of public officials to ensure AI development is advanced in a human rights-friendly manner.

The UN AI Advisory Body was formed as part of the UN Secretary-General’s Roadmap for Digital Cooperation and began its work in October 2023, with a mandate to provide analysis and recommendations for the global governance of AI.