The International Monetary Fund warned that the spread of artificial intelligence (AI) could impact nearly 40% of jobs worldwide, potentially increasing global inequality.
In a Sunday blog post, IMF chief Kristalina Georgieva called on governments to set up social safety nets and introduce retraining programs to counter the impact of AI, a report cnn Said.
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“In most scenarios, AI will make overall inequality worse, a troubling trend that policymakers need to address to prevent the technology from further inflaming social tensions,” they wrote ahead of the World Economic Forum (WEF) annual meeting in Davos, Switzerland. “must be actively addressed.” , where the topic has been placed on top of the agenda.
As the summit began on Monday, the ski resort town of Davos was decorated with AI ads and branding.
Georgieva highlighted in her blog that as AI becomes more widely adopted by both workers and businesses, it is projected to have both positive and negative impacts on the human workforce.
Echoing concerns expressed by other experts, Georgieva said the anticipated impacts were likely to have a deeper impact on advanced economies than emerging markets. This is partly due to the perception that white-collar workers are more vulnerable than manual workers.
In advanced economies, up to 60% of jobs could potentially be affected by AI. According to their statements, about half of these jobs could experience a positive impact through increased productivity by AI.
“For the other half,” Georgieva wrote, citing IMF analysis, “AI applications could perform key tasks currently performed by humans, reducing demand for labor, which could lead to lower wages and “There could be a reduction in hiring.”
“In the most extreme cases, some of these jobs could disappear.”
40% and 26% of jobs in emerging markets and low-income countries, respectively, are expected to be impacted by AI. cnn informed of.
Emerging markets refer to places with sustained economic growth, such as India and Brazil, while low-income countries refer to developing economies falling within a certain level of per capita income, such as Burundi and Sierra Leone.
“Many of these countries do not have the infrastructure or skilled workforce to harness the benefits of AI, increasing the risk that the technology could worsen inequality over time,” Georgieva said.
He cautioned that the use of AI could increase the risk of social unrest, especially if younger and less experienced workers adopt the technology to increase their productivity, leaving more senior workers struggling to keep pace.
AI emerged as a major topic at WEF in Davos last year when ChatGPT attracted widespread attention. The chatbot sensation powered by generic AI started the discussion on its potential to reshape global work dynamics by showcasing its ability to compose essays, speeches, poems and beyond.
Since then, advancements in technology have expanded the use of AI chatbots and systems, making them more mainstream and spurring large-scale investment.
Some tech firms have already pointed directly to AI as they rethink staffing levels.
Workplaces may be changing, but widespread adoption of AI could ultimately increase labor productivity and increase global GDP by 7% over 10 years, according to a March 2023 estimate from Goldman Sachs economists. Is.
Georgieva also cited opportunities in her blog post to boost production and incomes around the world through the use of AI.
“AI will transform the global economy,” he wrote. “Let’s make sure this benefits humanity.”
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