Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), addressed the necessity for emerging economies to adapt to the transformative effects of artificial intelligence (AI) during her speech at the AlUla Conference for Emerging Market Economies in Saudi Arabia. She emphasized that these economies must embrace AI to remain competitive and ensure sustainable growth.

Georgieva highlighted that the rapid advancements in AI present both challenges and opportunities. She noted that successfully navigating these changes requires a strategic approach, particularly in workforce development and education. The IMF chief stressed the importance of reskilling and upskilling workers to prepare for the evolving job market influenced by AI technologies.

In her remarks, Georgieva pointed out that emerging economies cannot afford to lag in AI adoption, as this could hinder their economic prospects. She called for coordinated efforts among governments, businesses, and educational institutions to foster innovation and effectively harness the potential of AI for economic development.