AI investment boom offsets energy shock to keep global growth at 3%, IMF chief says
Strong investment in AI infrastructure is keeping global growth at about 3 per cent, yielding major benefits for many Asian economies that supply the hardware, such as Thailand, International Monetary Fund managing director Kristalina Georgieva said on Monday. The artificial intelligence investment boom was already delivering a “demand shock, an investment shock” that could boost growth in…
IMF chief Kristalina Georgieva revealed on Monday that strong investment in AI infrastructure is maintaining global growth at approximately 3%, despite an energy supply shock. AI's impact is creating a "demand shock, an investment shock" that could boost growth in advanced Asian economies by 0.5 to 1 percentage point, and emerging Asian economies by 0.2 to 0.8 percentage point.
Georgieva emphasized that AI is already here and is a transformative technology that alters how we work and live. The World Bank President, Ajay Banga, highlighted the potential of "small AI" in generating significant productivity gains for emerging markets in sectors like agriculture, healthcare, and education. However, World Bank President Ajay Banga warned that AI could widen the gap in growth and job creation between developing and advanced economies if not properly managed.
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