Kristalina Georgieva, the Managing Director of the International Monetary Fund, warned about the inadequacy of global regulatory frameworks for artificial intelligence, noting that legislation is not keeping pace with rapid technological advancements in this field.

Speaking at the annual meetings of the IMF and World Bank boards in Washington, Georgieva said, “Most countries around the world lack regulatory frameworks for AI technologies,” pointing out that the rapid development in this field “is not matched by equivalent progress in legislation and the establishment of ethical guidelines to regulate it.”

She added, “The technological revolution driven by AI technologies is dominated by advanced economies, with the United States holding the largest share.”

Georgieva noted that some emerging markets, such as China, have made significant progress in this sector, while many developing countries lag far behind, limiting their ability to benefit from the potential of this technological revolution.

The IMF Managing Director called on international organizations to sound the alarm about potential risks and to work on establishing rules and standards to regulate this field to ensure it serves humanity fairly and without harm.