The International Monetary Fund and the World Bank have warned that artificial intelligence could worsen unemployment in Nigeria and other developing countries if urgent steps are not taken to prepare workers for the technology.

Speaking at the IMF-World Bank Annual Meetings in Bangkok, Thailand, IMF Managing Director Kristalina Georgieva described AI as a “slow-moving tsunami,” warning that about 40 per cent of jobs worldwide could be affected, downgraded or eliminated by the technology.

World Bank President Ajay Banga says AI should be used to improve productivity and create jobs rather than simply replace workers. He highlighted its potential in agriculture and healthcare, including helping farmers identify crop diseases and supporting frontline health workers.

The World Bank also identifies Nigeria, Kenya and South Africa as leading centres of AI activity in Africa, but warns that unreliable electricity, poor internet access and limited digital skills could slow adoption.

Meanwhile, the Association of Senior Staff of Banks, Insurance and Financial Institutions has raised similar concerns, saying workers are already losing jobs to robotic technology. The association is urging workers to develop digital and AI skills to remain relevant in the changing workplace.