AI will affect around 40% of the world’s jobs, says IMF – 01/14/2024 – Market

Artificial intelligence (AI) will affect 60% of jobs in advanced economies, IMF Managing Director Kristalina Georgieva said shortly before leaving for the World Economic Forum in Davos, Switzerland.

“Advanced economies and some emerging markets will see 60% of their jobs affected,” he said in an interview in Washington, citing a new International Monetary Fund report on the issue.

“And then it decreases to 40% for emerging markets, 26% for low-income countries,” he added, referring to the IMF report, which points out that, globally, almost 40% of global employment is exposed to AI.

The report indicates that half of the jobs affected by AI will be harmed, while the rest could benefit from increased productivity due to AI.

“Your job could disappear completely, which is not good, or artificial intelligence could enhance your job, making you more productive and increasing your income,” Georgieva explained to AFP.

While AI will initially have a smaller impact on emerging markets and developing economies, they are also less likely to benefit from the advantages of this new technology, according to the IMF.

“This could worsen the digital divide and income disparity between countries,” the report continued, adding that older workers are likely to be more vulnerable to changes caused by AI.

The IMF sees a significant opportunity for policy to address these concerns, Georgieva told AFP.

“We must focus on helping low-income countries, in particular, act more quickly to take advantage of the opportunities that artificial intelligence will present,” he said.

“In other words, embrace it, it’s coming,” he added. “So, artificial intelligence, yes, it’s a little scary. But it’s also a tremendous opportunity for everyone.”