IMF Chief: AI Will Hit The Labor Market "like A Tsunami"

Up to 60% of jobs could be affected by the changes.

Managing Director of the International Monetary Fund Kristalina Georgieva believes that the rapid penetration of artificial intelligence could radically reshape the global labor market. She said this on Sunday at the G20 summit in South Africa.

She said the global economy is performing better than expected after all the shocks of recent years - COVID, wars, trade tensions - but worse than it needs to be.

The IMF believes that artificial intelligence could become a driver of the economy, adding about 1 percentage point to global growth.

"But we have to realize that artificial intelligence is penetrating our lives extremely fast. And not all countries are ready for it. In developed economies, up to 60% of jobs could be affected by the change; in emerging markets, about 40%; and in low-income countries, 26%. So artificial intelligence is hitting the labor market like a tsunami," she said.

Georgieva urged governments to invest in digital systems and education, and to shape regulations that encourage innovation but do not favor machines over people.

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