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AI Will Hit 40% of Jobs, IMF Signals. Young People Are First in Line
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Artificial intelligence spending is keeping the world economy growing at roughly 3% a year even as an energy shock drags on most countries, IMF Managing Director Kristalina Georgieva said Monday in Bangkok.
Key facts
- Georgieva spoke on the opening day of the IMF and World Bank annual meetings, which run through October 18 in the Thai capital
- The IMF publishes its full World Economic Outlook at 9 a.m
- A percentage point is the raw gap between two growth rates, so an economy growing 2% that gains a full point grows 3%, which is a lot
- Monday in New York, with its first revision to the 3% global growth forecast since July
Summary
IMF Managing Director Kristalina Georgieva said Monday in Bangkok that AI investment is keeping global growth near 3% despite an energy shock. Georgieva called AI a 'slow-moving tsunami' that will eventually touch about 40% of jobs worldwide and roughly 60% in advanced economies, with young workers hit first. The IMF will release its full World Economic Outlook on October 13, its first update to the 3% global growth forecast since July. Georgieva spoke on the opening day of the IMF and World Bank annual meetings, which run through October 18 in the Thai capital.