Spending on artificial intelligence, or AI, is helping the world economy grow by about 3% a year, according to IMF head Kristalina Georgieva. This support continues even though energy prices remain high. Asian economies that make AI equipment, including Thailand, are benefiting the most from this spending.
However, Georgieva also warned that AI will change work, education, and the way governments collect taxes. The IMF expects it to affect about 40% of jobs worldwide. Some jobs will improve, while others will become worse or no longer be needed. Around 60% of jobs in richer countries could be affected, compared with 23% in the poorest countries. Young people entering the workforce face the earliest problems because routine work in first jobs is disappearing.
Singapore's President Tharman Shanmugaratnam also warned about falling demand for workers starting their careers. He said that, unless governments take action, AI could widen the differences in economic growth and employment between wealthy and developing countries.
