Remember the International Monetary Fund? Usually the news it brings is not good….
Almost 40% of jobs worldwide could be affected by the rise of artificial intelligence (AI), a trend that is likely to deepen inequality, according to the International Monetary Fund.
In a Sunday post on the IMF blog (International Monetary Fund), its head Kristalina Georgieva called on governments to create social safety nets and offer retraining programs to deal with the impact of artificial intelligence.
"In most scenarios, AI will likely worsen overall inequality, a worrying trend that policymakers must proactively address to prevent the technology from fueling further social tensions," he says ahead of the World Economic Forum's (WEF) annual meeting. from the World Economic Forum) in Davos, Switzerland, where the issue is expected to be high on the agenda.
The city of Davos was already festooned with AI ads and brands as the summit got under way on Monday.
As AI continues to be used by more businesses, it is expected to both help and hurt HR, Georgieva says.
Georgieva said the effects are expected to be felt more in advanced economies than in emerging markets, in part because office workers appear to be more at risk than manual workers.
In the most developed economies, for example, up to 60% of jobs could be affected by artificial intelligence. About half of them may benefit from how artificial intelligence promotes higher productivity, but:.
"For the other half, AI applications may perform essential tasks currently performed by humans, which could reduce labor demand, leading to lower wages and reduced hiring," says Georgieva, citing IMF analysis.
"In the most extreme cases, some of these jobs may disappear."
