International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said that India is playing a significant role in the global Artificial Intelligence (AI) revolution and is helping make the technology more accessible not only for its own citizens but also for several developing countries.
Speaking at the Asia in 2050 Conference in Bangkok, Georgieva highlighted the growing impact of AI on the global economy and said that Asian countries are likely to play a major role in shaping this technological transformation.
AI Can Strengthen Asia’s Economic Growth
Georgieva said that effective use of AI to enhance productivity could significantly boost Asia’s economic performance. According to her, the region’s annual economic growth could rise by nearly one percentage point if countries successfully integrate AI into their economies.
She noted that India’s strong digital ecosystem, expanding technology sector and large young workforce place the country in a strong position to help expand AI adoption globally.
Automation Could Reshape Job Markets
At the same time, Georgieva cautioned that the rapid adoption of AI may lead to changes in labour markets. While the demand for high-skilled and low-skilled jobs may grow, many middle-level jobs could face challenges due to increasing automation.
She also expressed concern about entry-level positions, which often involve routine and repetitive tasks that can be easily automated through AI technologies.
Need for Investment in Skills and Technology
To address these challenges, Georgieva stressed the need for governments to invest in digital infrastructure and strengthen skill development programmes. She said workers must be equipped with the capabilities required to adapt to new technologies.
According to the IMF chief, countries that invest in human capital and encourage continuous learning will be better placed to benefit from the economic opportunities created by artificial intelligence.
