According to the International Monetary Fund (IMF), around 40% of jobs globally could be affected by the rise in the use of artificial intelligence (AI). The IMF warned that these recent trends in AI could deepen the inequality that’s already present in the tech industry, and other industries where AI is being used.
IMF chief Kristalina Georgieva published an official blog post on Sunday in which she called on government powers to establish effective “social safety nets and offer retraining programs” to counter the negative impacts of AI, according to CNN.
“In most scenarios, AI will likely worsen overall inequality, a troubling trend that policymakers must proactively address to prevent the technology from further stoking social tensions,” she wrote.
Georgieva published the post ahead of the annual World Economic Forum meeting in Switzerland, where the topic of AI is set to be a big topic of conversation.
Sam Altman, the chief executive of ChatGPT-maker OpenAI, and Satya Nadella, the CEO of Microsoft, will also speak at the Forum later this week and be involved in a debate being called “Generative AI: Steam engine of the Fourth Industrial Revolution?”
“As AI continues to be adapted by more workers and businesses, it’s expected to both help and hurt the human workforce,” Georgieva said in her blog, according to CNN.
Georgieva also stated that the negative impacts of AI are expected to hit nations with advanced economies.
She explained that in more developed economies, up to 60% of jobs could potentially be impacted by AI, but half of those jobs could benefit from the productivity benefits of AI.
“For the other half, AI applications may execute key tasks currently performed by humans, which could lower labor demand, leading to lower wages and reduced hiring. In the most extreme cases, some of these jobs may disappear,” wrote Georgieva.
CNN reported that within emerging markets, places with sustained economic growth, 40% of jobs are expected to be impacted by AI. In lower income nations, places with developing economies, 26% of jobs are expected to be impacted by AI.
“Many of these countries don’t have the infrastructure or skilled workforces to harness the benefits of AI, raising the risk that over time the technology could worsen inequality,” stated Georgieva.
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at firstname.lastname@example.org.