The IMF post also suggests that AI could impact around 60% of occupations in developed nations, potentially increasing productivity in half of these roles. However, the other half may see a decrease in labor demand, leading to lower earnings and fewer jobs. In contrast, AI exposure is expected to be 40% in developing economies and 26% in low-income countries, implying less direct disruption. However, these countries often lack the infrastructure and trained labor to fully utilize AI, increasing the technology's risks. The analysis also indicates that college-educated workers and younger people may be better equipped to adapt to these changes.
Key takeaways:
- The International Monetary Fund (IMF) predicts that the boom in artificial intelligence (AI) may lead to a lower demand for labor and increase inequality between countries with different economies.
- Almost 40% of jobs are expected to be impacted by AI, with advanced economies being more exposed to the advantages and disadvantages of AI due to their employment structures centered on professions requiring a lot of cognitive processing.
- AI may influence around 60% of occupations in developed nations, potentially increasing productivity in half of the exposed occupations, but also potentially leading to a reduction in labor demand, lower earnings, and fewer jobs.
- Older workers and those without a college degree may be more susceptible to the AI-driven revolution, while younger, more tech-savvy individuals may be better equipped to take advantage of new opportunities.