World Bank jobs council urges 'crisis-era' employment support measures as IMF warns of AI ‘tsunami’

The World Bank's jobs council is calling for governments to implement crisis-era employment support measures in response to the growing threat of artificial intelligence (AI) to the global labor market. This comes as IMF Chief Kristalina Georgieva warns of an AI "tsunami" that is hitting the labor market, with young workers entering the job market being the most exposed. The concern is that AI could automate many jobs, particularly those in sectors that involve repetitive or routine tasks.

The impact of AI on employment is a pressing concern for trade and markets, as it has the potential to disrupt entire industries and create significant job displacement. The World Bank's call for crisis-era employment support measures suggests that governments may need to take proactive steps to mitigate the effects of AI on employment, such as providing training and education programs for workers who may be displaced. This could also involve investing in social safety nets and other forms of support for workers who are struggling to adapt to the changing job market.

Looking ahead, traders and investors will be watching to see how governments and companies respond to the challenge of AI and its impact on employment. Key things to watch include any announcements from governments about new policies or programs to support workers, as well as earnings reports from companies that are heavily exposed to AI and automation. The IMF's warning of an AI "tsunami" suggests that this is a issue that is unlikely to go away anytime soon, and that it will require a sustained and coordinated response from policymakers and business leaders.

Originally reported by cnbc.com. Trade-News adds analysis for finance & markets readers.