A recent analysis by the International Monetary Fund (IMF) underscores the extensive impact of artificial intelligence (AI), suggesting that it has the potential to disrupt almost 40% of all jobs. The Managing Director of the IMF, Kristalina Georgieva, has expressed concerns about the consequences of widespread AI adoption, particularly its potential to exacerbate existing inequalities.
Georgieva emphasizes the crucial role of policymakers in addressing this trend, highlighting the need for proactive measures to prevent unchecked AI deployment from worsening social tensions and disparities.
Also Read: AI Cameras to Catch people throwing trash out from Cars
The analysis reveals that the impact of AI on employment is expected to be particularly pronounced in advanced economies, affecting approximately 60% of jobs. While in about half of these cases, employees may benefit from enhanced productivity and capabilities, in other instances, AI could replace roles traditionally performed by humans, potentially leading to job displacement and affecting wages.
Conversely, low-income countries may experience a comparatively lower impact, with AI affecting only around 26% of jobs. Georgieva notes that these countries often lack the infrastructure and skilled workforces needed to harness the benefits of AI, posing a risk of increased inequality among nations over time.
This analysis aligns with a 2023 report by Goldman Sachs, which estimated that AI has the potential to replace the equivalent of 300 million full-time jobs. However, the report also highlighted the possibility of new job opportunities emerging alongside a significant increase in productivity. The ongoing debate about the impact of AI on employment underscores the importance of careful policy considerations to ensure a balanced and equitable integration of this transformative technology.
