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E344: Why Development Banking Is About to Be Disrupted Like Consumer Banking Was

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Back in 2018, Ozzeir Khan ran an experiment at the Asian Development Bank: could AI predict GDP better than the bank's PhD economists? It came remarkably close. The economists' verdict — if you can't explain it, it's no good, even if it's right.

Eight years on, that argument is over. We talk about what generative AI is doing to document-centric institutions — development banks, law firms, investment banks — and who it displaces first. Ozzeir's answer is uncomfortable: not just the entry-level roles, but the middle management layer, and it's already showing up in the Amazon and Microsoft layoffs.

Also: why the skill that matters now is asking better questions rather than finding answers, and why the biggest disruption he sees is to his own profession — software engineering.

Ozzeir Khan is Director and CIO | Operations and Country Engagement at the World Bank, previously Director of Digital Innovation at the Asian Development Bank.

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