college graduates<\/a> facing shrinking employment opportunities as the technology transforms the global workforce, International Monetary Fund Managing Director Kristalina Georgieva warned Monday.<\/p>\nSpeaking during the IMF and World Bank’s annual meetings in Bangkok, Thailand, Georgieva described AI as a “slow-moving tsunami” that could have profound consequences for employment, education, economic growth and government tax revenues, according to Reuters.<\/p>\n
The IMF estimates that AI could eventually lead to 40% of jobs being augmented, downgraded or eliminated, Georgieva said.<\/p>\n
“It is a transformative technology. It so completely changes how we work, how we live,” she said.<\/p>\n
Singapore President Tharman Shanmugaratnam, speaking at the same event, warned that AI was already reducing opportunities for young workers entering the labor market.<\/p>\n
“There is a particular problem that we have to address very soon … and that is that, the first rung in employment, your first job upon graduation, is now seeing less demand,” he said.<\/p>\n
Despite the concerns about employment, Georgieva said booming investment in AI infrastructure was helping sustain global economic growth at around 3%, even as an energy supply shock weighs on the economy.<\/p>\n
The IMF chief estimated that AI investment could boost growth in advanced Asian economies by 0.5 to 1 percentage point, while emerging Asian economies could see gains of 0.2 to 0.8 percentage point.<\/p>\n
“AI, love it, hate it. It’s already here,” Georgieva said.<\/p>\n
Reuters contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"6 hours agoIMF chief warns AI could disrupt 40% of jobs worldwide, threaten entry-level workers Artificial intelligence could…\n","protected":false},"author":2,"featured_media":879961,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,181,507,4,27304,829,2413,3,74,965],"class_list":["post-879960","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-breaking-news","tag-current-news","tag-latest-news","tag-national-news","tag-news","tag-technology","tag-world-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/879960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=879960"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/879960\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/879961"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=879960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=879960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=879960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}