Artificial intelligence will impact nearly 40% of jobs and worsen global economic inequality, according to a new analysis from the International Monetary Fund (IMF).
Kristalina Georgieva, Managing Director of the IMF, said: “In most scenarios, AI could worsen overall inequality.” Georgieva added that policymakers should pay attention to this “worrying trend” to “prevent technology from disrupting social outcomes.” Tensions increased.”
The development of artificial intelligence has highlighted the benefits and risks associated with artificial intelligence.
In half of these cases, employees can expect benefits from AI integration to increase their productivity.
In other cases, artificial intelligence will be able to take over important tasks that humans currently perform. This could reduce demand for workers, impact wages and even destroy jobs.
The risk of “worsening inequality”
Meanwhile, the IMF predicts that technology will impact only 26% of jobs in low-income countries.
This reflects a 2023 Goldman Sachs report that said AI could replace the equivalent of 300 million full-time jobs, but new jobs could also be created as productivity increases.
Georgieva noted that “many countries do not have the infrastructure or skilled workforce to take advantage of the benefits of artificial intelligence, increasing the risk that this technology could deepen inequalities between countries and increase over time.”
In general, younger and higher-earning workers may see a disproportionate increase in their wages following the introduction of AI.
The IMF said low-income earners and the elderly could be left behind
“It is important that countries establish comprehensive social protection systems and offer retraining programs for vulnerable workers,” Georgieva said.
“In this way, we can make the transition to AI more inclusive, protect livelihoods and reduce inequality.”
The IMF analysis was presented at a meeting of global political and business leaders at the World Economic Forum in Davos, Switzerland.
Artificial intelligence has become a topic of discussion with the increasing popularity of applications like ChatGPT.
Technology is becoming increasingly regulated around the world
Last month, European Union officials reached a preliminary agreement on the world's first comprehensive rules for the use of artificial intelligence.
The European Parliament will vote on the artificial intelligence law early this year, but no law will come into force until at least 2025.
The United States, the United Kingdom and China have not yet published their own guidelines on AI.