The International Monetary Fund (IMF) has issued a warning that the widespread implementation of artificial intelligence (AI) is projected to impact nearly 40% of global jobs, exacerbating existing inequalities on a global scale.

 The International Monetary Fund (IMF) has issued a warning that the widespread implementation of artificial intelligence (AI) is projected to impact nearly 40% of global employment, exacerbating existing inequalities.

The global economy is undergoing a swift transformation thanks to the rapid advancements in artificial intelligence (AI). Various industries, including manufacturing and customer service, have already begun utilizing AI to automate their operations. As AI continues to progress, its influence on employment is expected to become even more profound.

The report released by the International Monetary Fund (IMF)

According to a recent report by the International Monetary Fund (IMF), the global workforce could see a significant transformation by 2030, with AI potentially impacting around 40% of all jobs. The report highlights that low-skilled workers in developed nations are particularly vulnerable to the effects of AI.

The effect on inequality.

According to the IMF report, there is a strong likelihood that AI will exacerbate the existing inequality in society. Skilled workers can expect an increase in wages due to AI, while those with lower skill levels may experience stagnant or even reduced wages.

Suggestions for policy

Policymakers were urged by the IMF report to address the potential adverse effects of AI and implement measures to alleviate them. The report emphasized the importance of investing in education and training programs to equip workers with the necessary skills for thriving in an economy dominated by AI.

The report from the IMF serves as a stark reminder of the potential consequences that AI could have on employment. It is crucial for policymakers to implement measures that guarantee the advantages of AI are accessible to all workers, rather than just a privileged few.