Artificial intelligence discussions have now gone beyond science fiction movies and have settled at the center of the world economy. Although some people welcome this technology with excitement and others approach it with caution, IMF Managing Director Kristalina Georgieva clearly puts it: "Artificial intelligence is already here." Speaking on the first day of the ongoing IMF-World Bank Annual Meetings in Bangkok, Georgieva emphasized that the "demand shock and investment shock" created by artificial intelligence investments kept global growth around 3 percent. Asian countries, which are particularly strong in the hardware supply chain, are among the economies that benefit most from this wave.
ARTIFICIAL INTELLIGENCE INVESTMENTS SUPPORT GLOBAL GROWTH
Georgieva stated that investments in artificial intelligence infrastructure can increase growth by 0.5 to 1 point in advanced Asian economies and by 0.2 to 0.8 points in developing Asian economies. He stated that although the energy supply shock dragged the global economy down, growth was kept within the 3 percent band thanks to the "higher gear" of artificial intelligence investments. The IMF's global growth forecast, announced in July as 3 percent for 2026, will be updated on Tuesday.
While approximately 18 thousand people are expected to attend the meetings, it was learned that some high-level officials such as US Treasury Secretary Scott Bessent and Spanish Finance Minister Arcadi Espana will not attend due to internal priorities.
“SLOW MOVING TSUNAMI”
Georgieva described artificial intelligence as a “slow moving tsunami.” He emphasized that this technology will have profound impacts on employment, growth, education and even the way governments collect tax revenues. He pointed out that the structure of taxes collected on labor may also change due to the shift towards capital.
According to IMF estimates, over time artificial intelligence could support, reduce or completely eliminate 40 percent of jobs. It is stated that 10 percent of jobs in the USA currently require artificial intelligence skills. While routine and repetitive jobs are shrinking, employment growth is observed in two low-wage sectors such as construction and data centers. Georgieva also shared her personal experience and explained that an artificial intelligence assistant provides her with a 30-second program summary every day.
ASIA AT THE HEART OF THE AI SUPPLY CHAIN
The USA, China and India are the most important producers of the artificial intelligence supply chain. However, many companies building the infrastructure operate in Asia. Georgieva pointed out the critical role of the region in hardware supply, citing Thailand, which hosted this year's meetings, as an example.
WARNING FOR DEVELOPING COUNTRIES
World Bank President Ajay Banga stated that they are focusing on "small artificial intelligence" applications that do not depend on large language models. He said this technology could create significant productivity gains for farmers, health systems and educators in developing countries.
Singapore President Tharman Shanmugaratnam reminded that there is a decrease in demand for graduates in the first step of finding a job. "The demand for the first job line after graduation is decreasing. We need to address this problem very soon," he said.
Shanmugaratnam warned that if left passive, artificial intelligence could create a new growth and employment divide between developed and developing economies. “We must support the use of artificial intelligence that allows people to create good jobs and climb the career ladder,” he said.
While artificial intelligence investments are a lifeline for the global economy in the short term, they also bring about radical transformations from labor markets to tax systems in the long term. The meetings in Bangkok continue to be one of the platforms where the opportunities and risks of this transformation are discussed at the highest level.
