A UNITED NATIONS advisory body said on Thursday that global governance of artificial intelligence is “imperative” and urged the UN to lay the foundations for the first inclusive global institutions to regulate it.

In a 100-page report, the group said AI “is transforming our world,” offering tremendous potential for good from opening new areas of science and accelerating economic growth to improving public health, agriculture and optimising energy grids.

But left ungoverned, it said, AI’s benefits could be limited to a handful of countries, companies and individuals, while even more powerful systems than exist today “could upend the world of work,” create autonomous weapons and pose risks to peace and security.

The advisory body outlined principles that should guide formation of new institutions to govern AI including international law, and especially human rights law. It calls on all governments and parties involved in AI to work together to protect human rights.

The group made wide-ranging recommendations including a call for a global AI fund to ensure that the technology bridges the divide between rich and poor nations.

The advisory board’s report said: “As experts, we remain optimistic about the future of AI and its potential for good.

“That optimism depends, however, on realism about the risks and the inadequacy of structures and incentives currently in place.”