AI fuelling growth while putting Asia’s young workers at risk, IMF meeting hears
An investment surge into artificial intelligence may be helping prop up a global economy battered by energy supply shocks, but the technology’s potential to cull jobs requires swift mitigation if Asia’s youth are to secure a place in the future workforce, delegates were warned at the IMF–World Bank annual meetings in Bangkok on Monday. Soaring energy prices, persistent inflation and mounting debt…
The International Monetary Fund (IMF) and World Bank met in Bangkok, Thailand, discussing the impacts of artificial intelligence (AI) on the global economy and employment. While the technology has been credited with contributing to a 3% boost in global growth, there are concerns that AI could displace jobs, particularly among Asia's young workforce.
IMF Managing Director Kristalina Georgieva warned that 40% of jobs could be augmented, downgraded or eliminated, with 60% in advanced economies and 23% in low-income countries. She emphasized the need for swift mitigation measures to prepare populations for the changes taking place. Thailand, the host country, aimed to position itself as a stable investment destination in Southeast Asia, highlighting its regional connectivity and its role in attracting foreign direct investment in data centers and AI supply chains.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
