International Monetary Fund Managing Director Kristalina Georgieva said artificial intelligence investment is keeping global growth at around 3%, Reuters reported Monday (Oct. 12).

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At the same time, the trend portends a “slow-moving tsunami” that could upend labor markets, taxation, and education, Georgieva said at a weeklong set of meetings of the IMF and World Bank in Bangkok, according to the report.

“AI, love it, hate it. It’s already here,” Georgieva said, per the report. “That shift into higher gear is what is keeping the world economy growing at around 3%, despite the fact we are being dragged down by the energy supply shock.”

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The 3% figure came from a July forecast by the IMF, which will release an updated projection Tuesday (Oct. 13), the report said.

When asked about AI’s negative effect on jobs, Georgieva pointed to IMF research showing that some 40% of jobs will be augmented, downgraded or eliminated by the technology, with that figure climbing to as high as 60% in advanced economies, according to the report. This will have implications for employment, growth, education and even how governments earn revenue through taxation, considering the expected shift from labor to capital.

One study showed that 10% of jobs in the United States now require AI skills, the report said.

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