A recent assessment conducted by the International Monetary Fund (IMF) underscores the extensive implications of artificial intelligence (AI), revealing the potential to disrupt nearly 40% of the global workforce. Kristalina Georgieva, IMF’s Managing Director, has expressed apprehensions about the potential consequences of widespread AI adoption, particularly its exacerbation of existing inequalities.
Georgieva underscores the imperative for policymakers to address this concerning trend, as unregulated AI deployment may intensify social tensions and disparities. The swift expansion of AI has ignited fervent debate and scrutiny, with both its advantages and risks under heightened examination.
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As per the latest IMF analysis, the impact of artificial intelligence on employment is anticipated to be particularly pronounced in advanced economies, affecting around 60% of jobs. In approximately half of these instances, employees stand to gain from AI integration, as it enhances their productivity and capabilities. However, in other cases, AI has the potential to assume crucial roles traditionally fulfilled by humans, potentially diminishing the demand for human workers, impacting wages, and leading to job displacement. Conversely, the IMF’s projections indicate that low-income countries might experience a comparatively lower impact, with AI affecting only about 26% of jobs in these regions.
This analysis aligns with a 2023 report from Goldman Sachs, estimating that artificial intelligence could potentially replace the equivalent of 300 million full-time jobs. The report also highlighted the likelihood of new job opportunities emerging alongside a significant increase in overall productivity.
