IMF chief Kristalina Georgieva, speaking at the IMF and World Bank annual meetings in Bangkok, said AI is already strengthening the global economy but could deliver negative shocks if productivity gains fall short of expectations. She warned that without safeguards the risks may exceed the opportunities, and that society needs an ethical foundation along with digital infrastructure, electricity and adequate regulation. She said industry self-regulation is appropriate but should involve society, including countries with the biggest AI sectors such as the US, China and India. Anthropic co-founder Jack Clark backed common-sense standards set by AI-producing countries and said his company brings in third-party evaluators to review its systems. Separately, US Treasury Undersecretary Erin Browne argued that the IMF is too fixated on risks and should give more weight to AI's opportunities.
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Original headline: AI risks may eclipse benefits without safeguards , says IMF chief
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- IMF Chief : AI Risks May Exceed Opportunities Without Safeguards , Ethics Framework
IMF chief Kristalina Georgieva said on Friday that AI risks may exceed its opportunities without adequate safeguards and an ethical framework, backing a mix of industry self-regulation and government input. Speaking at the IMF and World Bank annual meetings in Bangkok, she said AI is already strengthening the economy but could cause negative shocks if productivity gains fall short, and that digital infrastructure, electricity and adequate regulation are needed. Anthropic co-founder Jack Clark called for 'common sense standards,' including regulation from AI-producing countries, while Harvard economist Dani Rodrik warned of either a jobs crisis or a financial crisis. Officials also debated the terminology, with the US government calling it 'super intelligence' while German Finance Minister Lars Klingbeil said he would keep calling it 'artificial intelligence.'
- IMF chief says AI risks may exceed opportunities without safeguards and ethical framework
IMF chief Kristalina Georgieva said AI risks may exceed its opportunities without adequate safeguards and an ethical framework, backing a mix of industry self-regulation and government involvement. At the IMF and World Bank annual meetings in Bangkok, the IMF had flagged risks from a possible end to the AI investment boom, high debt and a prolonged war in the Middle East. Georgieva warned AI could bring negative shocks if productivity gains are slow to arrive, and said digital infrastructure, electricity and adequate regulation are needed for people everywhere to benefit. Anthropic co-founder Jack Clark called for common-sense standards, while Harvard economist Dani Rodrik warned of either a jobs crisis or a costly financial correction depending on whether AI's productivity gains materialise. US Treasury Undersecretary Erin Browne argued the IMF should give more weight to AI's opportunities.
- Bangkok Post - IMF chief says AI risks may exceed opportunities without safeguards and ethical framework
IMF chief Kristalina Georgieva said AI risks may exceed its opportunities without adequate safeguards and an ethical framework, backing a mix of industry self-regulation and government input. At the IMF and World Bank annual meetings in Bangkok, the IMF flagged risks to growth and financial stability from a possible end to the AI investment boom, high debt and a prolonged Middle East war. On a panel with Anthropic co-founder Jack Clark, Georgieva said AI is already strengthening the economy but could cause negative shocks if productivity gains fall short, and that digital infrastructure, electricity and regulation are needed. Clark argued that common-sense standards are achievable and said Anthropic publishes its test results, but that the sector should not be fully voluntary. US Treasury Undersecretary Erin Browne said the IMF focuses too much on risks and should weigh AI's opportunities more, which Washington now calls “super intelligence.”
- IMF chief says AI risks may exceed opportunities without safeguards and ethical framework
- IMF chief says AI risks may exceed opportunities without safeguards and ethical framework
IMF chief Kristalina Georgieva said on Oct 16 that AI risks may exceed its opportunities without adequate safeguards and an ethical foundation, backing a mix of industry self-regulation and government input. Speaking at the IMF-World Bank annual meetings in Bangkok, she said AI is already strengthening the global economy but could bring negative shocks if productivity gains fail to arrive as quickly as hoped. Anthropic co-founder Jack Clark called for common-sense standards and supported regulation from AI-producing countries, while Harvard economist Dani Rodrik warned of either a jobs crisis or a costly financial correction if AI investment fails to pay off. The IMF had earlier flagged risks from a possible end to the AI investment boom, high debt and a prolonged Middle East war. The article also notes a debate over the name: some US officials want to call AI 'super intelligence,' while German Finance Minister Lars Klingbeil says he will keep calling it artificial intelligence.
- IMF chief says AI risks may exceed opportunities without safeguards and ethical framework
IMF chief Kristalina Georgieva said on Friday in Bangkok that AI risks may exceed opportunities without adequate safeguards and an ethical framework, backing a mix of industry self-regulation and government input. At the IMF and World Bank annual meetings, the IMF had flagged risks from a possible end to the AI investment boom, high debt levels and a prolonged war in the Middle East. Anthropic co-founder Jack Clark called for common-sense standards and regulation, while Harvard economist Dani Rodrik warned of either job losses or a costly financial correction if AI productivity gains fall short. Officials also differed on terminology, with US Treasury Undersecretary Erin Browne backing the term “super intelligence” and German Finance Minister Lars Klingbeil saying he will keep calling it artificial intelligence.
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