IMF AI Jobs: Artificial Intelligence has become a matter of concern in the present times. With its continuous expansion, many jobs are at stake.
Many big experts and market leaders have expressed concern about the impact of Artificial Intelligence and now the International Monetary Fund has expressed its views on it. According to International Monetary Fund analysis, Artificial Intelligence (AI) will impact about 40% of jobs worldwide. During this period, larger economies may face more risks than emerging markets and low-income countries. IMF Managing Director Kristalina Georgieva said that in most cases AI will make overall inequality worse. This could prove to be a dangerous trend, so policymakers will have to act quickly to prevent technology from further increasing social tensions.
Safety and Training Program
He further said that the impact of AI on income inequality will largely depend on how much the technology complements high earners. Georgieva said that workers with higher incomes and higher productivity of companies will boost capital returns, which will increase the gap in funds. Countries should re-provide protection and training programs for vulnerable workers.
Direct impact on people’s jobs
According to the analysis, there is potential for AI to completely replace some jobs, but more likely it will complement human work. About 60% of jobs in major economies could be affected, which is higher than in emerging and low-income countries.
Georgieva’s talk on artificial intelligence coincides with a meeting of global business and political leaders at the World Economic Forum in Davos, Switzerland, where AI has become a topic of discussion. Companies are spending a lot of money on this emerging technology, which sometimes creates anxiety among employees about the future of their roles. A recent example of this is BuzzFeed Inc., which closed its main news department while laying off more than 100 employees after deciding to use AI to help with content creation.
The European Union reached a tentative agreement in December on legislation setting safeguards on AI, while the US is still considering its federal regulatory stance.