What! Job Threats Due To AI Are REAL - IMF

By- Malika Sahni

International Monetary Fund alerts that the rapid increase of artificial intelligence is likely to impact 40% of jobs worldwide.

As per IMF chief Kristalina Georgieva, AI may deteriorate inequality, a troubling trend that policymakers must proactively address to prevent the technology from further stoking social tensions.

While expressing concerns, Georgieva asserts that the expected effects may have a huge impact on advanced economies compared to emerging markets.

White-collar workers are at a more vulnerable position than manual laborers.

60% of jobs in advanced economies may get influenced by AI. Nearly half of these jobs are likely to experience effects due to surge in productivity.

Hiring and salaries may witness a decline as AI applications will start performing key tasks that are currently being performed by humans.

Here’s the scariest part. In most extreme cases, some jobs may disappear.

40% of jobs are anticipated to be affected by AI in emerging markets like India and Brazil with sustained economic growth.

Meanwhile, 26% will be affected in lower-income countries with developing economies.