The World Bank

Artificial Intelligence (#AI) is transforming the global workforce, but its impact will not be the same everywhere. Much of the discussion on AI and #jobs focuses on high-income countries, where automation is already reshaping industries. But what will it mean for the workforce in developing nations? Gabriel Demombynes, Jörg Langbein, and Michael Weber share insights from recent research exploring AI’s labor market impact across 25 countries, covering 3.5 billion people. Data shows AI’s effects on jobs will likely be more gradual in the Global South, particularly in low-income countries. Differences in labor market structures, digital access, and job types all play a role. What does this mean for the future of work—and how can policymakers prepare? ⤵️

The February monthly Food Security Update from The World Bank is out. Get insights on: 1️⃣ The global food market outlook 2️⃣ Emerging issues 3️⃣ Regional updates Learn more: http://wrld.bg/e7lY50V5LGr

Tackling global challenges requires a united front. Discover how MIGA is unlocking private sector investments and mobilizing capital for global development. By leveraging insurance partnerships, it is: ➡️ Scaling guarantee capacity to support more investments in emerging markets. ➡️ Enhancing risk management to ensure financial resilience and long-term sustainability. ➡️ Catalyzing private sector growth in political risk insurance. ➡️ Driving high-impact projects that align with development goals. ➡️ Mobilizing capital to create opportunities where they are needed most. Learn more ⤵️

Weekly Update: ➡️ 𝗔 𝗡𝗲𝘄 𝗙𝗼𝗼𝗱 𝗘𝗰𝗼𝗻𝗼𝗺𝘆, 𝗥𝗼𝗼𝘁𝗲𝗱 𝗶𝗻 𝗣𝗿𝗼𝗴𝗿𝗲𝘀𝘀: The global food sector is coming under intense pressure. Discover how farmers, agronomists, and investors are driving game-changing innovations to nourish a growing world while building thriving markets for smallholder farmers. ➡️ 𝗡𝗲𝘄 𝗪𝗮𝘆𝘀 𝗳𝗼𝗿 𝗘𝗻𝗴𝗮𝗴𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗖𝗼𝘂𝗻𝘁𝗿𝗶𝗲𝘀 𝘁𝗼 𝗖𝗿𝗲𝗮𝘁𝗲 𝗮 #BetterBank: As part of its Evolution Process, the World Bank Group is reviewing its country engagement to align with its new vision, enhance efficiency, and better leverage private sector solutions. Learn more about our country engagement approach. ➡️ 𝗛𝗼𝘄 𝗗𝗼𝗲𝘀 𝗔𝗜 𝗔𝗳𝗳𝗲𝗰𝘁 𝗝𝗼𝗯𝘀 𝗶𝗻 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗶𝗻𝗴 𝗖𝗼𝘂𝗻𝘁𝗿𝗶𝗲𝘀? Artificial intelligence is transforming the global workforce, but its impact may not be felt equally across all regions. To better understand AI’s labor market effects in the developing world, read the latest World Bank Group analysis of data from 25 countries, covering 3.5 billion people. ➡️ 𝗙𝗶𝗷𝗶’𝘀 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗥𝗲𝗳𝗼𝗿𝗺𝘀 𝗗𝗿𝗶𝘃𝗲 𝗜𝗻𝗰𝗹𝘂𝘀𝗶𝘃𝗲, 𝗙𝘂𝘁𝘂𝗿𝗲-𝗥𝗲𝗮𝗱𝘆 𝗚𝗿𝗼𝘄𝘁𝗵: Fiji’s recent landmark reforms to modernize its payment system is reducing the Pacific nation’s reliance on cash, remaking commerce, and bringing real benefits to Fijians. 

World Development Report 2024 identifies what developing economies can do to avoid the “middle-income trap.” Lower-middle-income countries must go beyond investment-driven strategies—they must also adopt modern technologies and successful business practices from abroad and infuse them across their economies. Upper-middle-income countries need to accelerate the shift to innovation, by pushing the global frontiers of technology. This requires reconfiguring economic structures governing enterprises, labor, and energy use—in ways that enable greater economic freedom, social mobility, and political contestability. DOWNLOAD THE #WDR2024 REPORT ➡️http://wrld.bg/Wrih50V3VeF

The World Bank, alongside the Centre for Social and Economic Progress, is tackling the low female labor force participation in South Asia. By addressing challenges like safety, social networks, wage gaps, skills, and hiring discrimination, the Bank is paving the way for more women to enter the workforce. Recent data shows a rise in women's participation in India, highlighting the need for quality #job opportunities. Laveesh Bhandari and Franziska Ohnsorge share their insights on these challenges and potential solutions to boost women's participation in South Asia's workforce. The Brookings Institution

In a dialogue on the importance of policies on transforming the energy sector in Africa, Nigeria's Minister of Finance Wale Edun reminds us that electricity powers economies, creating jobs & improving lives. Replay the Mission 300 Energy Summit: http://wrld.bg/ukk050V0pXZ #PoweringAfrica

The world is confronting a set of intertwined challenges. The G20 Leaders requested The World Bank Group to change and be a more significant part of the solution. In response, we raised our ambition for speed, simplicity, better leveraging our balance sheet, and engaging partners and the private sector. Here’s how we are enhancing our approach: http://wrld.bg/7rXU50V4tgQ #BetterBank

Discover how private sector innovation is shaping economies worldwide. This month, we spotlight key insights from IFC - International Finance Corporation: In Fiji, pioneering e-payment reforms are reducing cash dependency and strengthening the economy. Uzbekistan is enhancing dialysis care through an effective public-private partnership. At the World Governments Summit in Dubai, IFC Managing Director Makhtar Diop addressed unlocking investment opportunities in emerging markets. Gain insights from World Bank Group experts on the global economic outlook and power market investments. ⤵️

Across Africa, women and individuals in the poorest households still face significant barriers to accessing essential financial services, with gaps ranging from 7% in Southern Africa to 14% in North Africa. Furthermore, people in the poorest 40% of households are much less likely to have a bank account compared to those in the wealthiest 60%, with the gap spanning from 15% in North Africa to 20% in East Africa. To drive progress, it’s crucial to address these barriers and work towards bridging Income disparities while enhancing financial resilience across the continent. Learn more: http://wrld.bg/WEfn50V3KvB #FinancialAccess #DigitalTransformation