PublicDisclosureAuthorized PublicDisclosureAuthorized PublicDisclosureAuthorized PublicDisclosureAuthorized THEKNOWLEDGECOMPACTFORACTION: TRANSFORMINGIDEASINTODEVELOPMENTIMPACT ForaWorldFreeofPovertyonaLivablePlanet April2024 TABLEOFCONTENTS ExecutiveSummaryiiv I.Introduction—DeliveringKnowledgeandTechnologytoDriveDevelopmentImpactforClients1 II.OpportunitiestoAccelerateDevelopmentImpact5 2.1Pillar1—Fit-for-purposeProductstoBetterServeClients6 2.2Pillar2:KnowledgePartnershipstoMaximizeReach,ScaleandImpact12 2.3Pillar3:LearningtoFuelInnovation15 2.4Pillar4:SystemstoTransformProductivity18 III.MonitoringProgressoftheWorldBankGroupKnowledgeCompact23 AnnexI:IEGPerspectivesontheKnowledgeCompact27 AnnexII:CCDRs—CrowdinginKnowledgefromAcrosstheWBGtoTackleClimateChange28 BOXES,TABLESANDFIGURES Table1:SummaryofKeyActionsvi Box1:ArtificialIntelligence:DrivingDevelopmentthroughResponsibleInnovation2 Box2:ScalingUpDevelopmentImpactthroughCountryEngagement3 Box3:TheWorldBank’sAnalyticalandAdvisoryWork—AnOverview8 Box4:GEMs:LeveragingMarketRiskDatatoMobilizePrivateCapitalinDevelopingEconomies11 Box5:AcceleratingAfrica’sGrowthwithaVibrantResearchNetwork14 Box6:HowtheAIRevolutionisTransformingtheWaytheWBGWorks22 Figure1:Whynow?Harnessingthetechnologyrevolutiontobetterrespondtocascadingglobalcrisesdemandsafreshapproachtoknowledge.5 Figure2:TheKnowledgeCompactframework:synergiesbetweenpillarswillleveragetechnologyandincentivestoscaleupimpactsforclients6 Figure3:AnorganizationalstructurealignedwiththeWBG’sstrategicdirectionwillenhance developmentimpactforclients20 Figure4:Analyticsarebeingconsolidated,creatingspaceforclient-drivenknowledgeproducts21 Figure5:IndicativeImplementationTimeline26 Photop.v:Manik,asolarpumpoperatorforNusra,Bangladesh.©DominicChavez/WorldBank. Photop.22:TheAfricanCenterofExcellenceintheInternetofThings(ACEIoT),Rwanda.©KelleyLynch/WorldBank.Photop.25:Communitymeeting,India.©SimoneD.McCourtie/WorldBank. i TheKnowledgeCompactforAction:TransformingIdeasintoDevelopmentImpact ABBREVIATIONS ACEAfricaCentersofExcellence AIArtificialintelligences AI4DArtificialintelligenceforDevelopment ASAAdvisoryServicesandAnalytics CCDRCountryClimateandDevelopmentReport CEMCountryEconomicMemorandum CEOChiefExecutiveOfficer CGIARConsultativeGrouponInternationalAgriculturalResearch CLASSCoreLearningAcademyandSolutionsServices(SPJ) CMUCountryManagementUnit COPConferenceoftheParties(ClimateChange) CPFCountryPartnershipFramework CPSDCountryPrivateSectorDiagnostics CSOCivilSocietyOrganization DECDevelopmentEconomics DFiDevelopmentFinance DFIDevelopmentFinanceInstitutions DIMEDevelopmentImpactEvaluation EFIEquitableGrowth,Finance,andInstitutions EIBEuropeanInvestmentBankGroup EMDEEmergingMarketandDevelopingEconomies ESGEnvironment,Social,andGovernance ESMAPEnergySectorManagementAssistanceProgram EUEuropeanUnion FCSFragileandConflict-AffectedStates GAVITheVaccineAlliance GCCGulfCooperationCouncil GCPGlobalChallengeProgram GEMGlobalEmergingMarket HDHumanDevelopment IBRDInternationalBankforReconstructionandDevelopment ICRImplementationCompletionandResultsReport ICTInformationandCommunicationsTechnology IDAInternationalDevelopmentAssociation IEGIndependentEvaluationGroup IFCInternationalFinanceCorporation IMFInternationalMonetaryFund INFInfrastructure ISRImplementationStatusandResultsReport ITInformationTechnology TheKnowledgeCompactforAction:TransformingIdeasintoDevelopmentImpact KMLKnowledgeManagementandLearning LLMLargeLanguageModels MALENAIFC'sMachineLearningESGAnalyst MDBMultilateralDevelopmentBank MIGAMultilateralInvestmentGuaranteeAgency ODAOfficialdevelopmentassistance OPCSOperationsPolicyandCountryServices PADProjectAppraisalDocument PCRProjectCompletionReport PEAPovertyandEquityassessments PSRProjectSupervisionReport SDSustainableDevelopment SDGSustainableDevelopmentGoals SFKStrategicFrameworkforKnowledge SPJSocialProtectionandJobs UNUnitedNations UNESCOUnitedNationsEducational,ScientificandCulturalOrganization WBWorldBank(IBRD/IDA) WBGWorldBankGroup WBIWorldBankInstitute WPAWorkProgramAgreement TheKnowledgeCompactforAction:TransformingIdeasintoDevelopmentImpact EXECUTIVESUMMARY i.Today’sglobalchallengesarebigger,morecomplexandmoreintertwinedthaneverbefore—fromtherelentlessgripofpovertyandstubbornpersistenceofinequalitytothedevastationscausedbyclimatedisasters,fragility,pandemicsandconflicts.Financingandinvestmentsalonecannotsolvetheseproblemsinaglobalcontextofhigherdebtandscarceresources.Nowmorethanever,clientsaredemandinginnovativeideasandsuccessfulexperiencesfromothercountriestotackletheongoingandemergingglobalcrises,regainthedevelopmentprogressofpastdecadesandmovefastertowardsachievingtheSustainableDevelopmentGoals. ii.Atthesametime,recentbreakthroughsintechnology,includingtherapidadvancesinartificialintelligence,offerenormouspotentialtorevolutionizedevelopmentwork.Policymakersandpractitionersacrosstheglobearepoisedtobenefitfromnewtoolstoinnovate,takeactionbasedonevidenceandacceleratethetransformationofnewideas