BANGKOK: Strong investment in artificial intelligence (AI) infrastructure is helping sustain global economic growth at around 3%, with significant benefits for Asia, while raising concerns about major disruptions to labour markets, taxation and education, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Monday.
Speaking at the opening of the IMF and World Bank’s weeklong annual meetings in Bangkok, Georgieva described AI as a “slow-moving tsunami” that could bring far-reaching changes to economies and societies.
She said the AI investment boom was generating both a demand and an investment shock, potentially increasing growth in advanced Asian economies by 0.5 to 1 percentage point and in emerging Asian economies by 0.2 to 0.8 percentage point.
“AI, love it, hate it. It’s already here,” Georgieva said.
She added that increased investment in AI was helping keep the global economy growing at around 3%, despite the drag from an energy supply shock.
The IMF had projected global growth of 3% for 2026 in July and was scheduled to release an updated economic outlook on Tuesday.
Around 18,000 participants, including finance officials from the IMF’s 191 member countries, were expected to attend the meetings. However, several finance ministers were set to miss the gathering because of domestic priorities, including US Treasury Secretary Scott Bessent and Spanish Finance Minister Arcadi España.
Finance ministers from Canada, India and the Democratic Republic of Congo were also expected to be absent, according to a source familiar with the plans. The source cited the Ebola outbreak in the Democratic Republic of Congo, which had reportedly killed at least 4,000 people.
Saudi Finance Minister Mohammed Al-Jadaan, who heads the IMF’s steering committee, was still expected to attend despite an operational halt at Riyadh airport following deadly weekend attacks by Yemen’s Iran-aligned Houthis, two sources said.
Addressing concerns about AI’s impact on employment, Georgieva cited IMF research indicating that around 40% of jobs globally could be augmented, downgraded or eliminated by the technology. The figure could reach 60% in advanced economies.
She warned that these changes could have significant implications for employment, economic growth and education, as well as government tax revenues, particularly as economic activity shifts from labour towards capital.
An initial study also found that 10% of jobs in the United States already required AI skills. While routine and repetitive roles were declining, employment in lower-paying sectors such as construction and data centres was increasing.
Georgieva described AI as a transformative technology that was changing how people work and live. She noted that she now received a 30-second AI-generated briefing on her schedule each morning.
She identified the United States, China and India as major producers in the AI supply chain, while noting that many companies supplying hardware for AI infrastructure were based in Asia, including Thailand, the host country for this year’s annual meetings.