AI Expected to Impact Up to 40% of Jobs Worldwide: IMF
The impact could be even more profound in advanced economies, with figures reaching 60%.
The International Monetary Fund (IMF) has sounded the alarm, cautioning that artificial intelligence (AI) is poised to affect up to 40% of jobs worldwide.[1]
The impact could be even more profound in advanced economies, with figures reaching 60%, with the UK standing out as a prominent example.
While the IMF acknowledges that in about half of these cases, AI could bring benefits to the workforce, the broader consequences for society remain challenging to predict.
The global financial institution warns that the adoption of AI technology is likely to exacerbate existing income and wealth inequalities.
In a newly released report, the IMF highlights the distinct possibility of a technological revolution on the horizon.
Kristalina Georgieva, the Managing Director of the IMF, noted in a blog post that the world stands at the brink of a transformative era that could potentially boost productivity, propel global economic growth, and elevate incomes worldwide.
However, this optimistic outlook is tempered by the realization that some individuals may face the loss of their livelihoods due to the widespread integration of AI.
Georgieva further pointed out that younger workers might find it easier to adapt to the opportunities presented by AI, while older workers could encounter challenges in transitioning.
Moreover, the IMF warns that, in most scenarios, AI is likely to contribute to an overall worsening of inequality.
This troubling trend requires proactive attention from policymakers to prevent the technology from becoming a source of increased social tensions.