The IMF also projects that AI will impact just 26% of jobs in low-income countries, due to a lack of infrastructure and skilled workforces to harness the benefits of AI. This could further widen the inequality gap among nations. The IMF emphasizes the need for comprehensive social safety nets and retraining programmes for vulnerable workers to make the AI transition more inclusive. The analysis comes amid discussions on AI at the World Economic Forum in Davos, Switzerland, and increased global regulation of AI technology.
Key takeaways:
- Artificial intelligence (AI) is predicted to impact nearly 40% of all jobs, according to an analysis by the International Monetary Fund (IMF).
- AI is expected to worsen overall inequality, with a greater proportion of jobs in advanced economies being affected, and could potentially lower demand for labour, affecting wages and even eradicating jobs.
- AI is projected to affect just 26% of jobs in low-income countries, with the lack of infrastructure and skilled workforces potentially worsening inequality among nations.
- The IMF suggests that it is crucial for countries to establish comprehensive social safety nets and offer retraining programmes for vulnerable workers to make the AI transition more inclusive and curb inequality.