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Leveraging Artificial Intelligence and Enhancing Countries' Preparedness

· Kristalina Georgieva, Managing Director of the International Monetary Fund (International)

Summary written by Dark Majestic in its own words · topics: public finances and debt, development and emerging economies, growth, investment and productivity, labour markets and jobs

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· Kristalina Georgieva Wiki · International Monetary Fund WikiLeveraging Artificial Intelligence and Enhancing Countries' Preparedness

ContextRemarks at the World Government Summit in Dubai; the IMF advises and lends to its 191 members to keep the global economy stable.

Why it mattersEstimates AI could add up to 0.8 point of yearly global growth and 2.8 percent to Gulf non-oil output, while affecting 60 percent of jobs in advanced economies.

Problems raised
  1. AI will upgrade, eliminate or transform about 40 percent of jobs worldwide.
  2. Middle-skilled jobs and young workers face the heaviest squeeze.
  3. Countries without digital infrastructure and skills risk being left behind.
Solutions proposed
  1. Use macro policy to fund research and reskilling without taxing people out of work.
  2. Regulate AI to be safe and fair without stifling innovation, and coordinate across countries.
  3. Cooperate on data sharing and knowledge transfer to gain scale.
Read full speech on imf.org ↗

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