International Monetary Fund Managing Director Kristalina Georgieva revealed that artificial intelligence is striking the global labor market "like a tsunami." During a conference in Zurich on Monday, she noted that AI is likely to affect 60% of jobs in advanced economies and 40% of job opportunities worldwide over the next two years. She added at the event organized by the Swiss Institute of International Studies affiliated with the University of Zurich, "We have little time to prepare people and businesses for that."
She stated, "AI could lead to a tremendous increase in productivity if we can manage it well, but it could also lead to more misinformation and, of course, more inequality in our society." Georgieva indicated that the global economy has become more vulnerable to shocks in recent years, referencing the COVID-19 pandemic in 2020, as well as the war in Ukraine.
Although she anticipated more shocks, particularly due to the climate crisis, she sees the economy as still remarkably resilient. Georgieva said, "We are not in a global recession." She added, "Last year there were fears of most economies slipping into recession, and that did not happen. The inflation that hit us very hard is decreasing almost everywhere."
During her way to the conference, Georgieva faced harassment from protesters demanding action on climate change and addressing the debts of the developing world.
