ROME -- Artificial Intelligence (AI) is crucial for achieving sustainable development, but needs to be implemented in a balanced and safe way, industry and innovation ministers of the Group of Seven (G7) said on Friday.

After a two-day meeting in the Italian cities of Verona and Trento, the G7 committed to achieving an appropriate balance between fostering innovation and the need for appropriate guardrails in promoting a safe, secure and trustworthy AI.

"We recognize that AI and other emerging technologies, if shaped to be safe... can be pivotal for the achievement of the Sustainable Development Goals (SDGs)," representatives to the meeting said in a final declaration.

These tools can have a positive impact on many sectors, and a "vast potential" to boost productivity, efficiency, business opportunities, and scientific discoveries, they said.

Meanwhile, the group also warned that digital technologies, including AI, are posing many complex challenges, including those concerning the respect of privacy, personal data protection, security and safety of intellectual property.

They also noted that online platforms, along with AI-enabled products, could be used to facilitate hate speech and disinformation, and other forms of manipulation, potentially fuelling social divides.

"These challenges and risks reinforce the need to integrate ethical considerations in relation to the development and use of such technologies," they said.

The G7 Ministerial Meeting on Industry, Technology and Digital was chaired by Italian Under Secretary of State for Technological Innovation Alessio Butti, as Italy is holding the G7 presidency this year.

The group comprises Canada, the United States, France, Germany, Italy, the United Kingdom and Japan, plus representatives of the European Union.