On Monday, October 12th, 2026, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, stated in Bangkok that robust investments in AI infrastructure are supporting global economic growth to remain at around 3%, bringing significant benefits to hardware supply countries in Asia such as Thailand, while also expecting 40% of jobs to be impacted.
The IMF and the World Bank are holding a week-long meeting in the Thai capital, Bangkok. Georgieva pointed out on the first day of the meeting that the AI investment boom has brought about “demand shocks” and “investment shocks,” potentially boosting growth by 0.5% to 1% for advanced Asian economies and 0.2% to 0.8% for emerging Asian economies.
Georgieva mentioned, “People have different attitudes towards AI – some like it, some dislike it. However, it is indeed here.”
Addressing hundreds of attendees in the Thai capital, she said, “This shift in the economy to a higher gear is what enables the global economy to maintain a growth rate of around 3% despite energy supply shocks.”
In July, the IMF predicted a global economic growth rate of 3% for 2026 and is set to release its latest outlook report on Tuesday, October 13th.
The week-long meeting is expected to have around 18,000 participants, including finance officials from the IMF’s 191 member countries. Some ministers, including U.S. Treasury Secretary Scott Bessent and Spanish Finance Minister Arcadi España, are reportedly choosing to be absent due to domestic priorities.
Georgieva stated that AI, like a “slow-moving tsunami,” will have far-reaching effects on future employment, growth, education, and even the way governments generate income through taxation, as a shift is expected from labor dependence to capital dependence.
IMF estimates suggest that AI could potentially enhance, downgrade, or eliminate 40% of jobs in the long term. Preliminary studies indicate that 10% of jobs in the U.S. already require AI skills.
She also pointed out that while routine, repetitive jobs are shrinking, low-wage jobs in construction and data centers are on the rise.
Georgieva boldly stated, “AI is a transformative technology that will fundamentally change our way of working and living,” revealing that she receives a 30-second itinerary summary from her AI assistant daily.
She noted that the U.S., China, and India are vital producers in the AI supply chain, but many companies constructing the necessary infrastructure are located in Asia, including the host country of this year’s annual meeting, Thailand.
World Bank President Ajay Banga has made employment a core focus during his tenure. He mentioned that the World Bank is concentrating on utilizing “small artificial intelligence” in emerging markets such as agriculture, healthcare systems, and educators to greatly enhance productivity without relying on large language models (LLMs).
Singapore President Tharman Shanmugaratnam specifically highlighted at the same event that governments should address and resolve the issue of AI development reducing job opportunities for graduates.
He emphasized, “We must urgently address a particular problem… which is the first rung of employment. The market demand for first jobs for recent graduates is decreasing.”
Shanmugaratnam underscored the need for global vigilance regarding AI causing “new differentiations” between developing and advanced economies in terms of growth and job creation, warning that “if we are too passive about AI, it will widen this differentiation.”
He stressed, “We must make every effort for this. Firstly, by using AI to create high-quality job opportunities while also creating jobs that are suitable for humans, allowing upward mobility even in the face of AI impact.”
(This article referenced reports from Reuters)