Held under the title The Great Rebalancing: Artificial Intelligence, Jobs, and the Future of Inclusive Growth, the session at the UAE Pavillion at the WEF Annual Meeting in Davos brought together H.E. Badr Jafar, the UAE’s Special Envoy for Business and Philanthropy, and Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), for a fireside discussion on the risks and opportunities shaping the global economic outlook.

Badr Jafar highlighted the UAE’s long-term strategic choice to build an economy optimized for resilience, openness, and global connectivity. “At a time when global systems are fragmenting, the UAE is doubling down on connection. We are known for open skies, open ports, and open minds – and the data shows the value of this approach,” he said. 

“Last year, the UAE attracted over US$45 billion in foreign direct investment, up nearly 50% year-on-year, even as global FDI declined by 11%. We accounted for more than half of all investment flows into the Middle East, ranked second globally for new greenfield projects, behind only the United States, and welcomed in nearly 10,000 new millionaires, more than any other country worldwide. In an age of fragmentation, our connectivity is a clear strategic advantage.”

Drawing on the IMF’s latest assessments, Kristalina Georgieva noted that while global uncertainty remains exceptionally high – and is likely to persist – the world economy has demonstrated notable resilience, with growth holding steady and IMF projections upgraded for the period ahead. She cautioned, however, that this resilience should not be taken for granted amid profound structural transformations driven by technology, geopolitics, climate change, and demographic shifts.

“A tsunami is hitting the labour market,” said Georgieva. “AI is quickly reshaping economies. Some roles grow; others disappear. We must invest in skills and prepare communities. The world as a whole is already experiencing the arrival of AI, but I do worry about the accordion of opportunities that are much more present in some places than in others.”

The discussion explored IMF research on global growth prospects and resilience threats, with a particular focus on labour-market transformation driven by AI. IMF estimates suggest that around 40% of global jobs will be significantly affected by AI-driven change – either enhanced, transformed, or displaced – highlighting the urgency of policy and investment choices that support communities through transition.

To enable resilient and inclusive growth, Georgieva emphasised the importance of four enabling factors: private-sector adaptability, responsible AI adoption, sustained trade flows, and sound fiscal policy. She also highlighted the critical role of public investment in education, digital infrastructure, and access to AI tools to ensure that communities can participate meaningfully in the emerging AI-driven economy.