World Bank President Ajay Banga has identified infrastructure and agriculture among five key sectors policymakers in developing countries must prioritise to meet the growing demand for jobs in the era of artificial intelligence (AI).
According to him, rather than eliminating jobs, AI will improve the viability of smallholder farming by making it easier for farmers to become more efficient and productive.
He said the same would apply to infrastructure development, particularly in the construction industry, where employment opportunities would remain significant.
The World Bank President noted that human infrastructure development would also remain a resilient source of employment.
The other sectors he identified as reliable sources of job creation are primary healthcare delivery, tourism and value-added manufacturing.
Mr Banga explained that the skills required to deliver primary healthcare would remain relevant because the sector requires significant human involvement, particularly in remote communities.
He said AI would instead improve the efficiency of the tools available to healthcare professionals in delivering primary healthcare services.
The World Bank President also urged developing economies not to overlook the potential of value-added manufacturing.
He said the experiences of China and India should serve as examples for developing economies seeking to expand employment opportunities through industrialisation.
Mr Banga explained that the availability of relatively cheap labour in developing countries makes manufacturing at competitive costs a viable avenue for job creation.
The World Bank President said the Bank’s Jobs Council identified these sectors after carefully assessing the potential impact of AI on employment.
He made the remarks during a three-member panel discussion at a World Bank event on the theme “Small AI: More and Better Jobs,” held on the sidelines of the ongoing IMF–World Bank Meetings.
