Artificial Intelligence Impacting Global Labor Market Like a Tsunami, says IMF Director
Artificial intelligence is making waves in the global labor market, according to International Monetary Fund Managing Director Kristalina Georgieva. Speaking at an event in Zurich, Georgieva warned that AI is expected to affect 60 percent of jobs in advanced economies and 40 percent of jobs worldwide in the next two years.
Georgieva emphasized the urgent need to prepare people and businesses for the AI revolution, which could bring both increased productivity and potential challenges such as misinformation and inequality.
Resilient Global Economy Faces Uncertainties
Despite facing various shocks in recent years, such as the global pandemic and conflicts like the war in Ukraine, the world economy has shown resilience, Georgieva noted. She acknowledged the looming threats of the climate crisis but reassured that the global economy is not in a recession.
Swiss National Bank Chairman Thomas Jordan also addressed the crowd, highlighting Switzerland’s successful fight against inflation. With inflation rates remaining within the SNB’s target range for 11 consecutive months, Jordan expressed optimism about the future stability of prices.
Looking ahead, both Georgieva and Jordan acknowledged the uncertainties that lie ahead, emphasizing the need for continued vigilance and preparedness in the face of evolving economic challenges.