Strong investment in AI infrastructure is keeping global growth at around 3 per cent with major benefits for Asia, but also foreshadows a “slow-moving tsunami” that could massively disrupt labor markets, taxation and education, International Monetary Fund Managing Director Kristalina Georgieva said this week.
The artificial intelligence investment boom was already delivering a “demand shock, an investment shock” that could boost growth in advanced Asian economies by a half to one full percentage point, and emerging Asian economies by 0.2 to 0.8 percentage point, she said.
“AI, love it, hate it. It’s already here,” Georgieva said.
“That shift into higher gear is what is keeping the world economy growing at around 3 per cent, despite the fact we are being dragged down by the energy supply shock,” she told hundreds of participants on the first…
