IMF Chief: “AI Is Propping Up the Global Economy—A Tsunami Is Coming for Jobs”

[Financial News, New York—Correspondent Lee Byung-chul]A boom in investment in artificial intelligence (AI) is sustaining global economic growth at around 3% despite shocks to energy supplies, according to the International Monetary Fund (IMF). In particular, increased investment in AI infrastructure could boost economic growth in advanced Asian economies by up to 1 percentage point, an analysis suggests. But warnings have also emerged that the spread of AI could affect 40% of jobs worldwide and become a “slow-moving tsunami” that disrupts labor markets and tax and education systems.
IMF Managing Director Kristalina Georgieva made the remarks at the IMF-World Bank Annual Meetings in Bangkok, Thailand, on the 12th (local time), saying, “Whether you like AI or not, it is already here with us.”
Georgieva stressed, “Despite the energy supply shock weighing on the global economy, the further acceleration of AI investment has enabled the global economy to maintain a growth rate of about 3%.”
In July, the IMF projected global economic growth of 3% for this year and is scheduled to release revised projections on the 13th.
The economic benefits of increased AI investment are expected to be concentrated in Asia. Georgieva said the AI investment boom was already creating “demand shocks” and “investment shocks,” and estimated that it could raise economic growth by 0.5–1.0 percentage points in advanced Asian economies and by 0.2–0.8 percentage points in emerging economies.
Georgieva explained that while the United States, China and India are key producers in the AI supply chain, many companies supplying the hardware needed to build AI infrastructure are based in Asia. This means the benefits of increased AI investment are spreading beyond countries developing the technology to countries supplying related equipment and infrastructure.
However, Georgieva warned that AI is a new engine of economic growth that could also deliver a massive shock to the labor market.
She likened AI’s impact on the labor market to a “slow-moving tsunami,” saying that according to IMF research, about 40% of jobs worldwide could be affected by AI, with workers’ capabilities enhanced, job quality reduced, or jobs eliminated altogether. In advanced economies, this share is projected to reach as high as 60%.
In the United States, 10% of all jobs already require AI-related skills. Jobs involving repetitive, standardized tasks are declining, while relatively lower-paid jobs are increasing in construction and data centers, she explained.
She also predicted that the spread of AI could change even the way governments collect taxes. As economic activity shifts from labor to capital, fundamental changes are inevitable not only in employment, growth and education, but also in how governments raise tax revenue.
Georgieva stressed, “AI is a transformative technology. It is completely changing the way we work and live.”


[email protected] Correspondent Lee Byung-chul Reporter