IMF: AI to Boost Global Growth, India's 'Viksit Bharat'

Kristalina Georgieva, Managing Director of the International Monetary Fund, stated at the AI Impact Summit that Artificial intelligence could raise global growth by 0.8%, making India's goal of becoming a 'Viksit Bharat' by 2047 achievable. She highlighted that this growth would surpass pre-COVID-19 pandemic levels, creating more opportunities and jobs. However, Georgieva also cautioned about the significant risks Artificial intelligence poses to employment, likening its impact to a tsunami. International Monetary Fund research suggests that 40% of jobs globally, and 60% in advanced economies, could be affected. She emphasized the need for countries to revamp education, support workers through social protections, and create enabling environments for Artificial intelligence to deliver productivity gains. India is considered well-positioned due to its public digital infrastructure and innovative population.