Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), stated that significant investments in artificial intelligence (AI) infrastructure are a key driver of global economic growth, projected to be around 3% this year. She noted that major Asian countries involved in the AI hardware supply chain are reaping the benefits.
According to Reuters, Georgieva made these remarks during her speech at the IMF and World Bank annual meeting in Bangkok, Thailand, on October 12. She emphasized that the surge in AI investment is creating a strong demand and investment shock.
Georgieva forecasted that the AI investment boom could increase economic growth rates by 0.5 to 1 percentage points for advanced Asian economies and by 0.2 to 0.8 percentage points for emerging Asian economies.
She remarked, "Despite downward pressures on the global economy from energy supply shocks due to conflicts such as the wars in Iran and Ukraine, the economy is maintaining growth around 3% thanks to AI. AI is already here, whether we like it or not."
Georgieva described AI as a revolutionary technology that will fundamentally change how we work and live, predicting significant shifts in employment, economic growth, education, and government revenue collection.
She specifically noted that AI could impact 40% of jobs worldwide, encompassing scenarios where job capabilities are enhanced, job levels are reduced, or jobs are eliminated entirely. In the U.S. labor market, she pointed out that 10% of jobs already require AI-related skills, highlighting a polarization where routine and repetitive jobs are declining while low-wage jobs in construction and data centers are increasing.
Earlier in July, the IMF projected a 3% growth rate for the global economy this year, while revising South Korea's real GDP growth forecast to 2.6%, an increase of 0.7 percentage points from the previous estimate of 1.9% made in April. The IMF is set to release updated economic forecasts for South Korea and other countries on October 13.
* This article has been translated by AI.
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