The rapid development of artificial intelligence (AI) technologies could affect approximately 40% of jobs globally, International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated during a joint IMF-World Bank fall meeting in Bangkok.
Comparing the impact of AI on the labor market to a “slow-moving tsunami,” Georgieva noted that technology will enhance human capabilities in some roles while diminishing the value of or completely eliminating others.
Impact More Limited in Developing Nations
According to the IMF head, about 23% of jobs in developing countries are expected to be exposed to AI, largely due to lower technology adoption rates in those regions.
Georgieva also highlighted research from the United States showing that 10% of domestic jobs already require AI skills.
Implications for Education and Public Finances
Amid these ongoing labor market shifts, the IMF chief stressed the need to rethink education systems. She emphasized that individuals will no longer be able to rely on a single set of skills acquired early in life throughout their entire careers, making lifelong learning and reskilling essential.
Georgieva warned that AI could also carry serious implications for public finances. If technological advancements increase capital’s share of income at the expense of labor income, tax revenues collected from wages could decline. In such a scenario, governments would need to seek new revenue sources to safeguard public budgets.
The IMF statement underscores that AI’s influence extends beyond job figures, reshaping skill requirements, income distribution, and national tax policies worldwide.
