Christine Lagarde says she is wary of the effects of artificial intelligence on employment — but she doesn't have a one-size-fits-all solution for all countries
The International Monetary Fund (IMF) confirms that it expects global economic growth to accelerate to 3.9% this year and in 2019, its managing director, Christine Lagarde, announced on Tuesday.
Christine Lagarde, speaking at an IMF conference in Jakarta, however, expressed mistrust about the effects of monetary policy normalization on financial stability, and those of technological progress on employment.
“One way or another, employment is going to be affected,” she said, Reuters reports.
According to the IMF Director, countries need to better prepare their employees for technological changes, such as automation and artificial intelligence, which could affect employment but have benefits.
“Some jobs will disappear, but more will be affected by automation, so we need to think about the evolution of work.”
Christine Lagarde has not advocated a single solution. Every country has to find its own way, she said.
Lately, it is especially cryptocurrencies that have attracted the attention of the former French Economy Minister. In an interview with Le Figaro a few days ago, she explained that she would examine how bitcoin and other virtual currencies could threaten financial stability.
In January, the Fund once again revised up its forecasts for the global economy in view of the acceleration of the growth momentum at work since mid-2016, but also the expected positive short-term impact of the US tax reform.
IMF economists expect growth of 3.9% this year and in 2019, 0.2 points more than in their autumn economic outlook published in October.