In a recent report, the International Monetary Fund (IMF) sheds light on the transformative influence of artificial intelligence (AI) on the worldwide labour market. The findings suggest a significant paradigm shift, with AI potentially affecting 40% of jobs globally, escalating to 60% in advanced economies like the US.
AI’s Dual Impact on Jobs
The IMF outlines a dichotomy in AI’s effect on employment. While half the time it enhances job efficiency, the other half sees the substitution of human roles, leading to potential workforce reductions. This dynamic could reshape the landscape of employment across industries.
Income Inequality Concerns
The report raises alarms about AI exacerbating income inequality. Skilled workers harness AI for increased productivity, potentially leaving less-skilled workers behind. Vulnerable groups, such as older workers, might face challenges adapting to this evolving employment environment.
Call for AI Governance
United Nations Secretary-General António Guterres advocates for regulatory guardrails on AI, expressing concerns over its potential to worsen inequality. The report emphasizes the need for policies to navigate AI’s intricate impacts, safeguarding its potential benefits for humanity.
The IMF’s report underscores the imperative for proactive policies and governance to harness the potential of AI while mitigating adverse consequences in the global labor market.
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Source: INC.
