IMF chief says India helping democratize AI for developing world
NEW DELHI — India is emerging as a major player in the global artificial intelligence revolution and is helping make the technology more accessible for developing countries, International Monetary Fund Managing Director Kristalina Georgieva said Thursday.
Speaking at the Asia in 2050 Conference in Bangkok, Georgieva said the rapid advancement of artificial intelligence could significantly reshape the global economy, with Asian countries expected to play a central role in that transformation.
“AI could increase Asia’s economic growth by nearly one percentage point every year if countries successfully use the technology to improve productivity,” she said.
Georgieva highlighted India’s growing role in expanding access to artificial intelligence tools beyond its borders.
“India is helping to democratise AI not only for its own people but also for many developing nations,” she said.
According to Georgieva, India’s large digital ecosystem, expanding technology sector, and young workforce could help make AI technologies more widely available around the world.
At the same time, she warned that artificial intelligence could disrupt labor markets across the region.
“The demand for both high-skilled and low-skilled workers may increase, but many middle-level jobs could face pressure as automation expands,” she said.
Georgieva also raised concerns about the potential impact on entry-level positions, many of which involve routine tasks that could be automated.
“This could create uncertainty for young graduates entering the job market,” she said.
To address these challenges, Georgieva emphasized the need for governments to invest in digital infrastructure, expand skills training, and help workers adapt to rapidly evolving technologies.
She said building an adaptable workforce and promoting continuous learning will be essential to ensuring that countries benefit from artificial intelligence while minimizing its risks.
According to the IMF chief, countries that prepare early and invest in developing human capital will be better positioned to take advantage of AI-driven economic growth, while those that delay could fall behind in the global economy. (Source: IANS)
