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World Bank and IMF warn AI could eliminate 40% of global jobs

1 report, 1 independent Updated Mon 00:00
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What happened

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The World Bank and the International Monetary Fund warned that artificial intelligence could transform or eliminate approximately 40 percent of jobs globally. They urged governments to invest in skills, infrastructure, and new employment opportunities to protect workers, particularly young people. World Bank Group President Ajay Banga noted that 1.2 billion young people will reach the age of 18 over the next 15 years.

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Why it matters

Some supportBrind's analysis of the reports

The institutions stressed that job creation is critical for developing countries to absorb the growing number of young people entering the labor market. They suggested that employment opportunities should not be limited to formal company jobs but should also include entrepreneurship.

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Who's involved

  • World BankInternational financial institution that issued the warning about AI job displacement.
  • International Monetary FundInternational financial institution that issued the warning about AI job displacement.
  • Kristalina GeorgievaManaging Director of the International Monetary Fund who participated in the panel discussion.
  • World Bank GroupGroup of organizations represented by World Bank Group President Ajay Banga.

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Coverage

Newest first; wire copies grouped