IMF says AI investment keeps global growth around 3%, with major Asia benefits
SPY•IMF Managing Director Kristalina Georgieva said AI infrastructure investment is keeping global growth around 3% and could boost growth in advanced Asian economies by 0.5 to 1 percentage point and emerging Asian economies by 0.2 to 0.8 point.
1. AI investment supports growth
Georgieva said strong investment in AI infrastructure is helping keep global growth around 3%, despite an energy supply shock. She said the investment boom could boost growth by 0.5 to 1 percentage point in advanced Asian economies and by 0.2 to 0.8 point in emerging Asian economies.
2. Jobs and economic shifts
The IMF estimates AI could augment, downgrade or eliminate 40% of jobs over time, Georgieva said. She described AI as a “slow-moving tsunami” with consequences for jobs, growth, education and government tax revenue as activity shifts from labor to capital.
3. Calls to address risks
World Bank President Ajay Banga said the bank is focused on using “small AI” to raise productivity in areas including farming, healthcare and education in emerging markets. Singapore President Tharman Shanmugaratnam warned that AI could reduce entry-level job opportunities for graduates and widen the growth and job-creation gap between developing and advanced economies.
