IMF’s Georgieva: Almost 40% of global employment is exposed to AI

Artificial intelligence (AI) will affect 60% of jobs in advanced economies, IMF managing director Kristalina Georgieva told AFP shortly before leaving for the World Economic Forum in Davos, Switzerland.

“Advanced economies and some emerging markets will see 60% of their jobs affected” he said in an interview in Washington, citing a new report from the International Monetary Fund on the subject.

“And then it drops to 40% for emerging markets, 26% for low-income countries”, he added, referring to the IMF report, which points out that, overall, almost 40% of global employment is exposed to AI.

The report notes that half of the jobs affected by AI will be negatively affected, while the rest may actually benefit from increased productivity due to AI.

“Your job may disappear completely, which is not good, or artificial intelligence may improve your job, so that you are more productive and your income level increases.”he explained Georgieva to the AFP.

Although AI will initially have less impact on emerging markets and developing economies, they are also less likely to benefit from the benefits of the new technology, according to the IMF.

“This could exacerbate the digital divide and income disparity between countries” continued the report, adding that older workers will likely be more vulnerable to the change that AI will bring.

The IMF sees an important opportunity for policy prescriptions to help address these concerns, he said. Georgieva to the AFP.

“We must focus on helping low-income countries, in particular, move faster to take advantage of the opportunities that artificial intelligence will present.“, said.

“In other words, embrace it, it’s coming.”he added. “So artificial intelligence, yes, it’s a little scary. But it is also a tremendous opportunity for everyone.”.