World Bank and IMF warn AI could worsen job crises in Africa
- Reports
- 6
- Developments
- 1
- Repetition
- 83%
New informationRepeats or wire copies
What happened
The International Monetary Fund and the World Bank warned that artificial intelligence (AI) could worsen job crises in Nigeria and other developing economies unless governments and businesses take urgent steps. IMF Managing Director Kristalina Georgieva stated that about 40 per cent of global jobs could be augmented, downgraded, or eliminated by AI. World Bank Group President Ajay Banga urged that AI be deployed to support job creation and improve productivity rather than simply replacing workers.
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Why it matters
The warnings highlight the risk of AI disrupting labor markets across Africa. The World Bank emphasized that economic development must translate into employment opportunities, requiring countries to equip workers with skills and deploy technology to support job creation.
A study is evaluating the economic performance and government efficiency across several African nations, including Kenya, Botswana, Namibia, Nigeria, Ghana, and South Africa.
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Who's involved
- South AfricaSouth Africa, identified as facing a job crisis.
- KenyaKenya, identified as facing a job crisis.
- NigeriaNigeria, warned that AI could worsen its job crisis.
- AfricaAfrica, the continent where the job crisis is being assessed.
Keep exploring
Part of
African economies balancing debt, investment, and digital transformationAlso in this story
- Adenike Grange critiques Nigeria's development outcomes as both nations are ranked in SDG reports.
- Regional currency volatility and pressure are influencing markets and regional trade sentiment across several African nations.
- Nigeria is outside investment grade, and both Nigeria and Botswana face heavy debt repayment requirements.
- Botswana seeks lessons from Kenya's business development practices.
The entities involved
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South Africa
country in southern Africa
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Kenya
country in Eastern Africa
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Nigeria
sovereign state in West Africa
Related events
- Nigeria discusses necessary economic and governance reforms during meetings held at the World Bank headquarters.
- Nigeria's economy is being measured by the World Bank amid discussions on the economic situation.
- The IMF is tracking South Africa's high unemployment rate while new data compares unemployment and AI skill penetration between Sudan and South Africa.
- The World Bank is providing data on poverty trends in Nigeria, while the IMF is releasing reports assessing the country's economic reforms.
- The World Bank projected poverty rates and Nigeria agreed to fiscal-monetary coordination via a signed Memorandum of Understanding.