India helping democratise AI for developing world: IMF Chief
New Delhi, March 5
India is emerging as a key player in the global Artificial Intelligence revolution and is helping to democratise the technology not just for its own citizens but also for developing countries around the world, Kristalina Georgieva, Managing Director of the International Monetary Fund, said on Thursday.
Speaking at the Asia in 2050 Conference in Bangkok, Georgieva said the rapid development of AI has the potential to reshape the global economy, with Asia playing a central role in this transformation.
"AI could increase Asia's economic growth by nearly one percentage point every year if countries successfully use the technology to improve productivity," she said.
"India is helping to democratise AI not only for its own people but also for many developing nations," she added.
According to her, India's large digital ecosystem, growing technology sector and young workforce could help make AI tools more accessible across the world.
At the same time, the IMF chief warned that AI could disrupt labour markets across the region.
"The demand for both high-skilled and low-skilled workers may increase, but many middle-level jobs could face pressure as automation expands," she said.
Georgieva also expressed concern about the impact on entry-level jobs, which often involve routine tasks that can easily be automated.
"This could create uncertainty for young graduates entering the job market," she mentioned.
To deal with these challenges, she stressed that governments must invest in digital infrastructure, improve skills training and ensure that workers are able to adapt to rapidly changing technologies.
She added that building an adaptable workforce and encouraging continuous learning will be key to benefiting from AI while minimising its risks.
The IMF chief said countries that prepare early and invest in their people will be better positioned to take advantage of AI-driven growth, while those that delay risk falling behind in the global economy.
— IANS
Reader Comments
Proud moment for India! But the warning about jobs is very real. We need massive investment in reskilling our youth, not just in metros but in tier 2/3 cities and villages. The government's focus on AI should include strong social safety nets.
Democratising AI is a great goal. Hope this means developing solutions for Indian farmers, small shopkeepers, and local artisans first. Let's solve our own ground-level problems with AI before aiming for the global stage. The potential is huge.
As an expat working in Bangalore's tech sector, I see this energy daily. The pace of innovation here is incredible. India's scale and diversity make it the perfect testing ground for AI solutions that can work in many developing economies.
With respect, while the recognition is good, we must be cautious. "Democratising" shouldn't mean just providing cheap tools. It must include ensuring ethical AI, preventing bias, and protecting data privacy—areas where our policy is still catching up.
True democratisation means my mother in a small town should be able to use an AI tool in her local language to help her small business. That's the real test. The focus on digital infrastructure is the right first step. 🤞
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