AI investments will drive power demand, but create jobs: WEF
What's the story
Artificial Intelligence (AI) investments are surging globally, with the US and China leading the way. According to Cathy Li, Head of AI, Data and Metaverse at the World Economic Forum (WEF), these two countries account for nearly 65% of global AI spending. Since 2010, over $600 billion has been invested in AI infrastructure worldwide.
Growth rate
Global AI investment growing at 33% annually
Li also noted that global AI investment is growing at an annual rate of around 33%. This rapid expansion is expected to have a major impact on energy demand. Global electricity consumption is projected to jump from some 420 terawatt-hours today to nearly 1,200 terawatt-hours by the end of this decade.
Job market
AI's impact on global labor markets
The AI-driven transformation is also set to reshape global labor markets. According to the WEF's Future of Jobs Survey, between 2025 and 2030, job creation and displacement due to structural changes in the labor market could affect 22% of today's total jobs. While new roles equivalent to some 14% of current employment, around 170 million jobs, are expected to be created, about eight percent or nearly 92 million roles could be displaced.
Employment shift
Net employment gain of 7% expected globally
The AI-driven transformation is expected to result in a net employment gain of some seven percent or around 78 million jobs globally. These themes are likely to dominate discussions at the upcoming World Economic Forum's Annual Meeting, Davos 2026, from January 19 to 23 in Davos-Klosters, Switzerland. The forum will take place amid heightened geopolitical tensions, rapid technological change and major societal shifts.