Artificial intelligence will impact nearly 40% of all jobs, according to a new analysis from the International Monetary Fund (IMF).
IMF Managing Director Kristalina Georgieva says that “AI is likely to worsen overall inequality in most scenarios.”
Georgieva added that lawmakers must address this “worrying trend” to “prevent technology from further inflaming social tensions.”
The proliferation of AI has highlighted this its benefits and risks.
The IMF said AI is likely to impact a larger share of jobs (about 60%) in advanced economies.
In half of these cases, employees can expect to benefit from AI integration, improving their productivity.
In other cases, AI will be able to do this perform important tasks currently performed by humans. This could reduce demand for labor, impact wages and even wipe out jobs.
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Risk of “worsening inequality”
Meanwhile, the IMF expects technology to impact only 26% of jobs in low-income countries.
It echoes a 2023 report from Goldman Sachs, which estimated AI could replace the equivalent of 300 million full-time jobs, but said new jobs could also be created along with productivity growth.
Georgieva noted that “many countries they do not have the infrastructure or qualified workforce to reap the benefits of AIwhich increases the risk that technology could worsen inequality between countries over time.”
More broadly, younger workers and those with higher incomes may see a disproportionate increase in their wages following the adoption of AI.
The IMF believes that lower incomes and older workers may be left behind.
“It is critical that countries establish comprehensive social safety nets and offer programs to reskill vulnerable workers,” Georgieva said.
“By doing this we can make the transition to AI more inclusive, protect livelihoods and reduce inequality.”
The IMF analysis comes as global political and business leaders meet at the World Economic Forum in Davos, Switzerland.
AI is a topic of discussion, following the rising popularity of applications such as ChatGPT.
Technology is facing increasing regulation around the world. Last month, European Union officials reached a preliminary agreement on the world’s first comprehensive laws to regulate the use of AI.
The European Parliament will vote on the AI bills early this year, but Legislation will not come into force until 2025.
The United States, Britain and China have yet to publish their own guidelines on AI. (JO)
Source: Eluniverso
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