IMF, World Bank Warn AI Could Worsen Nigeria’s Job Crisis

Post created on 11:40 am

The International Monetary Fund (IMF) and the World Bank have warned that the rapid rise of Artificial Intelligence (AI) could exacerbate unemployment in Nigeria and other developing nations without immediate interventions to upskill workers.

Speaking at the “Small AI: More and Better Jobs” event during the ongoing IMF-World Bank Annual Meetings in Bangkok, Thailand, IMF Managing Director Kristalina Georgieva described AI as a “slow-moving tsunami” that threatens global labor stability.

Georgieva stated that approximately 40 percent of jobs worldwide face potential augmentation, downgrade, or total elimination due to automation. She urged developing economies to analyze the long-term impact of AI integration and implement workforce retraining programs to mitigate severe disruptions.

Echoing similar concerns, World Bank Group President Ajay Banga emphasized that institutional priorities must focus on converting technological progress into sustainable job creation rather than labor displacement across emerging markets.