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 grappling with debt, inflation, and digital changeAlso 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
- The Nigerian Senate has approved a bill regarding the creation of state police, while Bola Ahmed Tinubu transmitted the constitutional amendment bill to the Senate.
- A 50-50 joint venture between ANOH Gas Processing Company and NNPC Limited is strengthening collaboration to expand gas supply from the Niger Delta to northern Nigeria.