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IMF Managing Director Kristalina Georgieva said on Wednesday that artificial intelligence could boost global growth by 0.8% and India’s goal of becoming a Vikshit Bharat country, or a developed country, is achievable.
Georgieva said in a panel discussion at the AI Impact Summit here that research from the International Monetary Fund (IMF) suggests that AI has the potential to significantly accelerate global growth.
“We’ve done some research and this is the answer. Based on what we know, AI can boost global growth by almost 1 percentage point. We’re saying 0.8 percentage points… That means the world will grow faster than before the coronavirus pandemic,” she said.
He added that faster economic growth is “great” for creating more opportunities and jobs.
“This is the scale we are seeing for India, and it would mean that Vikshit Bharat for India is achievable,” Georgieva said.
India has ambitions to become a Vikshit Bharat and a $30 trillion economy by 2047.
At the same time, the IMF MD warned that AI poses significant risks to the job market.
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“We have calculated that this risk is very high. We are actually seeing the impact of AI… it’s like a tsunami. Globally, 40 percent of jobs will be affected by AI… 40 percent in emerging markets and 60 percent in developed countries,” she said.
