AI Will Affect Almost 40 Percent Of Jobs, Says IMF Chief (Image: X @KGeorgieva)
International Monetary Fund (IMF) chief Kristalina Georgieva recently said in an interview that artificial intelligence (AI) poses risks to job security around the world. At the same time, the IMF chief also told AFP that AI also offers a “tremendous opportunity” to enhance flagging productivity levels and fuel global growth.
In a blog post published on January 14, Kristalina Georgieva said that almost 40 percent of global employment is exposed to AI. “In advanced economies, about 60 percent of jobs may be impacted by AI,” said the IMF chief in the post, citing the IMF”s recent analysis on the matter. In the analysis titled Gen-AI: Artificial Intelligence and the Future of Work, the IMF mentioned that AI promises to increase productivity while “threatening to replace humans in some jobs.” According to the IMF, about half the exposed jobs in advanced economies will be negatively affected by AI, and the rest could benefit from enhanced productivity through AI integration.
AI has captivated the world. New IMF research & our new Preparedness Index shows it will affect almost 40% of jobs around the world, replacing some & complementing others. My blog on why we must have a careful balance of policies to tap its potential. https://t.co/5uIXxWd4bu pic.twitter.com/cZMGciz7s0
— Kristalina Georgieva (@KGeorgieva) January 14, 2024
The IMF chief also noted that in emerging markets and low-income countries, AI exposure is expected to be 40 percent and 26 percent, respectively. The latest findings indicate that emerging markets and developing economies face fewer immediate disruptions from AI. Kristalina Georgieva says that many countries do not have the infrastructure or skilled workforces to utilise the benefits of AI. The IMF chief said that, due to this situation, technology could worsen inequality among nations.
Notably, AI technology could also affect income and wealth inequality within countries. Kristalina Georgieva said that the world may see polarization within income brackets, with workers who can utilise AI seeing a surge in their productivity and wages and those who cannot fall behind. The IMF chief stated that AI will likely worsen overall inequality and also added that policymakers must proactively address this “troubling” trend to prevent the technology from further adding fuel to social tensions.
