IMF chief says AI risks may exceed opportunities without safeguards
The risks of artificial intelligence may exceed its opportunities if no adequate safeguards and ethical framework are put in place, ‌International Monetary Fund chief Kristalina Georgieva said on Friday, backing a blend of industry self-regulation and input from key governments.
International Monetary Fund chief Kristalina Georgieva warned that artificial intelligence risks may surpass its potential benefits without proper safeguards and an ethical framework, during a panel discussion at the IMF and World Bank annual meetings in Bangkok. The technology was a major topic of conversation, as the IMF previously raised concerns about growth, financial stability risks due to high debt levels and a prolonged Middle Eastern war.
While AI is strengthening the global economy, Georgieva expressed concerns that without adequate measures, negative shocks could result if it fails to deliver the expected productivity gains. She stressed the need for common sense standards, access to digital infrastructure, electricity, and proper regulation in order for people worldwide to reap the benefits of this rapidly evolving technology.
Industry self-regulation is necessary, but should involve engagement with society, particularly countries with large AI sectors, like the US, China, and India, as well as those in the AI supply chain. The IMF should also play a role in areas such as productivity growth, labor markets, and financial stability risks. Jack Clark, co-founder of Anthropic, agreed that setting standards is possible, citing early policy frameworks in the European Union and voluntary commitments in the US.
He added that third-party evaluations in his company's business could help build confidence in the technology.
Written by urgent.news from Bangkok Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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