In an interview in China this week, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), discussed how Artificial Intelligence (AI) will be critical for driving productivity and economic growth.
“The problem we face of low productivity and weak growth needs a solution and artificial intelligence can be a big part of this solution,” said Georgieva.
While new technologies present tremendous opportunity, they also require preparation.
“We cannot just settle back and be satisfied with low productivity [or] weak growth,” said Georgieva, stressing the urgent need for action to take advantage of AI-powered growth.
In summarizing the data, the interviewer questioned Georgieva whether a significant disruptive potential on industries and jobs is to be expected.
“Embrace technology and invest heavily in new technology,” the IMF chief responded, before adding: “Re-allocate workers from contracting industries to growing industries. Invest in education and workforce development to update skills. Take advantage of the growth potential in new technologies”
The interview reinforced the importance of actively investing in and adopting new technologies for growth. Georgieva stressed the importance of not being able to say it can’t be done and is of the stance that we have to have courage to follow through.
Featured image: Credit CCTV
