IMF, World Bank warn AI could worsen Nigeria’s unemployment crisis

The International Monetary Fund (IMF) and World Bank have warned that artificial intelligence could worsen unemployment in Nigeria and other developing economies unless governments invest in digital skills and infrastructure.

IMF Managing Director Kristalina Georgieva raised the concern during the “Small AI: More and Better Jobs” event at the IMF-World Bank Annual Meetings in Bangkok, Thailand.

According to the World Bank,as reported by Vanguard, the event examined how affordable AI applications could improve productivity, support businesses and create employment opportunities in developing countries.Georgieva described AI as a “slow-moving tsunami”, warning that approximately 40 per cent of jobs worldwide could be transformed, downgraded or eliminated by the technology.

She stressed that countries must prepare workers for changing labour markets through education, training and policies supporting technological adaptation.

World Bank President Ajay Banga emphasised employment generation as a central development priority.

“The bank’s entire focus has to be on jobs,” Banga said.

He argued that AI should improve productivity and expand employment rather than simply displace workers.