The Impact of AI on Jobs, A Warning from the IMF Chief

The head of the International Monetary Fund (IMF) has raised serious concerns about the impact of AI on jobs worldwide. During an event in Zurich, she highlighted that AI might affect about 60% jobs in developed countries and 40% in other parts of the world. This rapid change demands urgent preparation from both individuals and businesses to handle the upcoming shifts in the workforce.

The IMF chief emphasized the dual nature of AI's impact. On one hand, if managed properly, AI could significantly boost productivity. On the other hand, it risks increasing misinformation and societal inequality. The statement reinforces the IMF's previous report, which predicted that AI would replace some jobs entirely, while it might assist in others.

Further concerns were voiced about AI worsening inequality, a trend that could heighten social tensions unless policymakers take action.

The IMF's assessment showed that richer countries like Singapore, the United States, and Denmark are better prepared for AI, thanks to their strong performance in key areas necessary for adopting this technology. In contrast, poorer nations lag behind, facing greater challenges.

A recent study from the Massachusetts Institute of Technology (MIT) suggests that the threats posed by automation may not be as severe as some fear.

However, the overall caution remains that without careful management and preparation, AI could have destabilizing effects on the global job market. It’s clear that while AI offers considerable benefits, its potential downsides cannot be ignored, necessitating proactive strategies to mitigate its impacts.

IMF Chief Warns: AI Threatens 60% of Developed Country Jobs, Urges Preparedness for Workforce Shifts.
Image: DIW-Aigen

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