At the IMF–World Bank Annual Meetings in Bangkok, Fed Chairman Kevin Warsh called AI the most consequential change to the US and global economy in his lifetime, but said its effect on employment over the next 12 or 18 months is unknown. He expects the path to AI's gains to be bumpy because the technology and market structure remain uncertain. IMF Managing Director Kristalina Georgieva said research suggests about 10 percent of jobs are entirely new AI-created roles, yet AI may also replace some of those jobs, and urged a 'protect people, not jobs' approach. World Bank President Ajay Banga said 'Small AI' can help farmers and health workers, while many developing countries need electricity, connectivity and safeguards to use these tools.
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