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IMF Report Warns That AI Could Affect 40% of All Jobs, Potentially Worsen Inequality

  • SOFX Staff Writer
  • January 16, 2024
Close-up Portrait of Female Software Engineer Working on Computer, Programming Reflecting in Glasses. Developer Working on Innovative e-Commerce Application using Machine Learning, AI, Big Data
(Shutterstock / Photo Contributor Gorodenkoff)
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According to the International Monetary Fund (IMF), artificial intelligence is poised to impact around 40% of all jobs, potentially exacerbating global inequality. The IMF’s managing director, Kristalina Georgieva, emphasizes the need for policymakers to address this “troubling trend” to avoid AI fueling social tensions.

While AI is expected to enhance productivity in approximately 60% of jobs in advanced economies, it also poses the risk of replacing human-performed tasks, leading to job losses and wage reductions. In contrast, only about 26% of jobs in low-income countries are likely to be affected.

The EU has introduced comprehensive laws for AI usage, China has established national regulations, and the U.S. is compelling developers to share AI safety results. 

 

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The Editor Staff at SOFX comprises a diverse, global team of dedicated staff writers and skilled freelancers. Together, they form the backbone of our reporting and content creation.

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