IMF chief Kristalina Georgieva says that “in most scenarios, AI will likely worsen overall inequality.”
Artificial intelligence is expected to affect nearly 40% of all jobs, according to a new analysis by the International Monetary Fund (IMF).
IMF chief Kristalina Georgieva says that “in most scenarios, AI will likely worsen overall inequality.”
Ms Georgieva adds that policymakers will need to address the “worrying trend” to prevent technology fueling further social tensions.
According to the analysis, artificial intelligence will likely affect a larger share of jobs – around 60% – in advanced economies. In half of these cases, workers can expect to benefit from the integration of artificial intelligence, which will boost their productivity.
In other cases, AI will be able to perform basic tasks that are currently performed by humans. This could reduce the demand for labor, affect wages and even eliminate jobs.
The IMF also predicts that technology will affect just 26% of jobs in low-income countries.
Ms Georgieva said “many of these countries lack the infrastructure or skilled workforce to exploit the benefits of artificial intelligence, raising the risk that over time the technology could exacerbate inequality between nations ».
More generally, higher-income and younger workers may see a disproportionate increase in their wages following the adoption of AI.
Lower-income and older workers could be left behind, the IMF believes.
“It is vital for countries to create comprehensive social safety nets and offer retraining programs for vulnerable workers,” Ms Georgieva said. “In this way, we can make the AI ​​transition more inclusive, protecting livelihoods and reducing inequality.”
The IMF analysis comes as global business and political leaders gather at the World Economic Forum in Davos, Switzerland.
AI is a hot topic, following the rise in popularity of apps like ChatGPT.
The technology faces increased regulation around the world. Last month, European Union officials reached a tentative agreement on the world’s first comprehensive laws regulating the use of artificial intelligence.
The European Parliament will vote on AI law proposals early this year, but any legislation will not come into force until at least 2025.
The US, UK and China have yet to publish their own AI guidelines.
Source :Skai
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