IMF Report: Nearly 40% of Global Jobs to be Impacted by AI

IMF Report: Nearly 40% of Global Jobs to be Impacted by Artificial Intelligence.

The International Monetary Fund (IMF) shared a report, talked about by IMF’s leader Kristalina Georgieva, stating that Artificial Intelligence (AI) could influence a significant portion of jobs globally. She said in an interview that AI will affect 60 percent of jobs in advanced economies. The report points out the possible challenges and advantages brought by AI.

She said AI can be a danger to jobs worldwide, yet it’s also a big chance to increase productivity and drive global growth. Georgieva explained, “Your job might go away, which is not great, or AI could make your job better, making you more productive and increasing your income.”

The IMF report says AI will affect jobs less in developing countries, but they might miss out on productivity gains. Georgieva stressed the need to support low-income countries so they can quickly seize the opportunities AI brings.

AI might change how money is distributed in a country. There could be a split in incomes, where those who use AI well earn more, and those who don’t fall behind. Studies suggest AI helps less experienced workers get better at their jobs faster. Younger folks might find it easier to benefit, but older workers could face challenges in adjusting.

Companies are spending a lot on AI, making employees worry about their jobs. The IMF looked into this just as the world is thinking about rules for AI. The European Union made a tentative deal in December for AI safeguards, but the United States is still figuring out its federal rules.