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Serious Warning: Artificial Intelligence Will Hit 40% of Jobs

2024-01-15 09:09:31Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Serious Warning: Artificial Intelligence Will Hit 40% of Jobs

Artificial intelligence will affect nearly 40% of all jobs, according to a new analysis from the International Monetary Fund (IMF).

The managing director of the IMF, Kristalina Georgieva, says that "AI will worsen inequality". Georgieva added that policymakers must address the "disturbing trend" to "prevent technology from further fueling social tensions."

The spread of artificial intelligence has put the spotlight on its benefits and risks.

The IMF said AI is likely to affect a larger share of jobs, at around 60%, in advanced economies. In half of these cases, workers can expect to benefit from the integration of AI, which will increase their productivity.

In other cases, AI will have the ability to perform key tasks currently performed by humans. This can reduce the demand for labor, affecting wages and even eliminating jobs.

Meanwhile, the IMF projects that technology will affect only 26% of jobs in low-income countries.
Georgieva said that "many of these countries lack the infrastructure or workforce capable of harnessing the benefits of AI, raising the risk that over time the technology could exacerbate inequality between nations."

In general, higher-income and younger workers may see a disproportionate increase in their wages after adopting AI.

Lower-income and older workers may be left behind, according to the IMF, media reports said. 

"It is essential that countries create comprehensive social safety nets and provide retraining programs for vulnerable workers," Georgieva said. "By doing this, we can make the AI ​​transition more inclusive, protecting livelihoods and curbing inequality."

The IMF analysis comes as global business and political leaders gather at the World Economic Forum in Davos, Switzerland.

AI is a topic of discussion, following the rise in popularity of apps like ChatGPT. The technology is facing increased regulation around the world. Last month, European Union officials reached an interim agreement on the world's first comprehensive laws to regulate the use of AI.

The European Parliament will vote on AI Act proposals early this year, but any legislation will not come into effect until at least 2025.

The US, UK and China have yet to publish their AI guidelines.


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