AI Job Impact and Employment Strategies in Developing Economies

The International Monetary Fund (IMF) and World Bank warn that artificial intelligence (AI) may threaten 40% of global jobs, requiring urgent action to create employment in developing economies.

At the IMF-World Bank Annual Meetings in Bangkok, Thailand, IMF Managing Director Kristalina Georgieva described AI as a 'slow-moving tsunami' and stated that approximately 40 per cent of jobs globally could be augmented, downgraded, or eliminated by AI.

World Bank Group President Ajay Banga emphasized that economic development must translate into employment opportunities to address job creation challenges.

The World Bank urges developing economies to adopt local solutions for job creation amid AI-driven economic shifts.