WASHINGTON: Countries worldwide lack the necessary regulatory and ethical foundation to handle artificial intelligence’s rapid advancement according to IMF chief Kristalina Georgieva.
Georgieva urged civil society groups to ring the alarm bells about AI risks during Monday’s annual meetings of the International Monetary Fund and World Bank.
She stated the rapidly advancing technological revolution unleashed by AI is currently dominated by advanced economies.
The United States holds the lion’s share of AI development and benefits according to the IMF managing director.
This dominance is creating a growing gap between developed and developing nations she warned.
Developing countries will find it extremely difficult to catch up with AI leaders Georgieva cautioned.
The biggest shortfall lies specifically in regulation and ethics frameworks for artificial intelligence.
Georgieva made these remarks during discussions with civil society organizations in Washington.
Her comments highlight growing global concerns about AI governance and equitable access.
The annual IMF and World Bank meetings continue addressing critical economic challenges worldwide. – Reuters
