Acknowledgments ix

Abbreviations x

Regional classification used in this report xi

Executive Summary xiii

Chapter 1 Recent Developments, Policies, and Outlook 3

  Global challenges, slower growth 3

  Consumption moderates 7

  Labor markets remain broadly resilient 9

  Investment growth holds firm 11

  Exports remain mixed 14

  Inflation remains elevated 17

  Monetary policy is largely on hold 19

  Fiscal consolidation remains limited 20

  Outlook: Uneven recovery across a diverse region 22

  References 30

Chapter 2 Making AI Work: Jobs, Firms, and Productivity 33

  Section 1: The State of AI in ECA 35

  Section 2: Challenges and Constraints in a World of AI 52

  Section 3: Opportunities Created by AI 60

  Section 4: From Diagnosis to Action: Enabling AI to Work for ECA 70

  References 85