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BackAI fuelling growth while putting Asia’s young workers at risk, IMF meeting hears
AI fuelling growth while putting Asia’s young workers at risk, IMF meeting hears
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SCMP Economy51 minutes agoBusiness1 min readChina

AI fuelling growth while putting Asia’s young workers at risk, IMF meeting hears

Delegates warned in Bangkok that rapid AI job displacement requires swift mitigation for Asia's youth.

artificial intelligenceimfworld bank

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An AI investment surge is propping up a global economy battered by energy shocks, but delegates at the IMF-World Bank annual meetings in Bangkok were warned that the tech's job-culling potential requires swift mitigation for Asian youth.

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Why It Matters

The IMF-World Bank annual meetings opened in Bangkok, addressing economic pressures from energy shocks and AI integration.

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An investment surge into artificial intelligence may be helping prop up a global economy battered by energy supply shocks, but the technology’s potential to cull jobs requires swift mitigation if Asia’s youth are to secure a place in the future workforce, delegates were warned at the IMF–World Bank annual meetings in Bangkok on Monday.

Soaring energy prices, persistent inflation and mounting debt framed the opening of the week-long summit, which was last hosted in the Thai capital in 1991.

Unusually, the US has not sent its Treasury Secretary to attend the gathering, despite triggering the energy crunch following its war against Iran, taken alongside Israel, in February.

Since then, oil prices have oscillated around US$100 a barrel thanks to the partial closure of the Strait of Hormuz, driving up inflation and forcing governments to drain reserves or borrow heavily to cushion consumers from high costs.

Open Questions

  • What specific mitigation policies will be implemented for Asian youth?
  • How long will the partial closure of the Strait of Hormuz persist?

Related Topics

artificial intelligence
OrganizationsIMFWorld Bank
PlacesBangkokThailandUSIran
Topicsimfworld bankbangkokenergy pricesinflationeconomy
This article was originally published by SCMP Economy.

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