AI: A Double-Edged Sword for Global Growth and Jobs

IMF Managing Director Kristalina Georgieva states AI can boost global growth by 0.8%, making India's vision of 'Viksit Bharat' achievable. At the AI Impact Summit, she highlighted AI's potential, while warning of risks to the job market, predicting significant impacts globally and particularly in advanced economies.

The IMF's Managing Director, Kristalina Georgieva, has announced that artificial intelligence (AI) has the ability to enhance global economic growth by 0.8%, marking a significant boost toward global prosperity.

Speaking at the AI Impact Summit, Georgieva underscored AI's transformative potential, forecasting its ability to propel the world to pre-pandemic growth levels and assist India in achieving its ambitious 'Viksit Bharat' status by 2047.

However, she also issued a strong cautionary note about the risks posed by AI to employment, likening its impact to a tsunami. According to IMF research, 40% of jobs in emerging markets and 60% in advanced economies could be affected.