Tuesday, 02 January 2024 12:17 GMT

Malaysia’s PM warns G20 nations of AI changing labor markets


(MENAFN) Malaysia’s Prime Minister Anwar Ibrahim cautioned G20 nations on Saturday that artificial intelligence (AI) is poised to transform labor markets at “a pace our institutions will struggle to match” during the leaders’ summit in Johannesburg, South Africa.

Speaking at the summit, Anwar emphasized that when policies are predictable and coordinated, societies absorb shocks with less damage. “Resilience comes from common preparedness, not isolation,” he said, noting that future disruptions are likely to be even more challenging.

“Artificial intelligence will reorganize labor markets at a pace our institutions will struggle to match without early investment in transitions. Workers, especially the young and women, will face these shifts alone,” he warned, highlighting the risk of destabilization if countries are unprepared.

Anwar recalled the global consequences of insufficient preparation for globalization, including stagnant wages, declining trust, and the rise of grievance-driven politics. He urged nations to equip their populations, particularly youth, for rapid technological change, strengthen social safety nets, and support small- and medium-sized enterprises. “Global resilience cannot be built on fiscal exhaustion,” he said, adding that countries must be able to “invest ahead of disruption, not after,” and that multilateral development banks should act swiftly in cooperation with governments.

Referencing the historical struggles of South Africa and the wider African continent under apartheid and colonization, Anwar stressed that the Global South expects the G20 to pursue a just and fair agenda. He called on leaders to take decisive action to end “atrocities and colonization in Gaza,” resolve civil conflict in Sudan, and achieve an “amicable resolution to the war in Ukraine.”

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