AI to impact 60% of advanced economy jobs – IMF

Samuel Akpan January 15, 2024

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AI to impact 60% of advanced economy jobs – IMF: Artificial intelligence (AI) will affect 60% of jobs in industrialized economies, IMF Managing Director Kristalina Georgieva told AFP soon before leaving for the World Economic Forum in Davos, Switzerland.

“Advanced economies, some emerging markets, are going to see 60 percent of their jobs impacted,” she said in an interview in Washington, citing an International Monetary Fund report published Sunday on the topic.

“And then it goes down to 40 percent, for emerging markets, 26 percent for low-income countries,” she added, referencing the IMF report, which notes that overall, almost 40 percent of global employment is exposed to AI.

According to the IMF report, half of the employment affected by AI would be lost, while the remaining jobs may profit from increased productivity increases as a result of AI. AI to impact 60% of advanced economy jobs – IMF

“Your job may disappear altogether — not good — or artificial intelligence may enhance your job, so you actually will be more productive and your income level may go up,” Georgieva told AFP.

Georgieva told AFP that the IMF sees policy prescriptions as a significant chance to assist address these concerns.

“This could exacerbate the digital divide and cross-country income disparity,” the report continued, adding that older workers are likely to be more vulnerable to the change brought about by AI.

“We must focus on helping low-income countries in particular to move faster to be able to catch the opportunities that artificial intelligence will present,” she said.

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