A dystopian vulnerability: IMF predicts AI could take over 40% of jobs worldwide
In a shocking prediction reminiscent of a dystopian movie, experts are warning that artificial intelligence (AI) could take over up to 40% of jobs worldwide.
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), stated in a recent post that while technological advancements could result in higher income and improve global growth, technology can also “replace jobs and deepen inequality.”
“The rapid advance of artificial intelligence has captivated the world, causing both excitement and alarm and raising important questions about its potential impact on the global economy,” she said.
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A new IMF analysis reveals the shocking impact of AI on the workplace: nearly 40% of jobs could be impacted.
And the level at which countries will be affected will vary.
In advanced economies, around 60% of jobs are particularly vulnerable.
IMF
In comparison, AI is expected to affect 40% of jobs in emerging markets and 26% of jobs in low-income countries.
Georgieva warned that this shift could lead to even greater inequality.
On the other hand, the analysis shows that advanced countries like Singapore, Denmark, and the United States are poised to adopt AI. In comparison, low-income countries aren’t as equipped to adopt AI since they don’t have the infrastructure or skilled workers, which could lead to worsening inequality between countries.
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But AI doesn’t necessarily have to completely replace jobs.
In some cases, this technology can help complement jobs, and in those scenarios, workers could see “a disproportionate increase” in their income. Since AI could improve profits, companies might be more willing to hire for these highly-paid roles.
As businesses continue to adopt AI, Georgieva is urging for a more “inclusive AI-driven world” through policies that will protect workers.
One X user suggests that to be more “inclusive,” there needs to be more emphasis on education and ethical AI development.
From my perspective, the potential repercussions of AI on jobs and inequality highlight the need for a thoughtful and inclusive approach. Emphasizing education and ethical AI development can foster a future where technological advancements benefit society as a whole.
— MiMi (@uyenuyen344357) January 15, 2024
Another blamed people, not AI.
It’s still people who make the choices to use AI at the expense of the workers. It’s not inevitable.
— Craig Evans (@NirvanaCraig) January 15, 2024
“The AI era is upon us, and it is still within our power to ensure it brings prosperity for all,” Georgieva warned.
Though things are getting uncomfortably Black Mirror-like, we can still hope people in power will prioritize the welfare of humankind and use AI responsibly.
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