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An alarming trend: artificial intelligence will replace 40% of jobs in the world - IMF

Kseniya KapustynskaNews
IMF analyzes the impact of AI on the labor market
IMF analyzes the impact of AI on the labor market

Artificial intelligence (AI) may replace about 40% of jobs in the world in the future. At the same time, AI is likely to affect 60% of jobs in developed economies and 26% in low-income countries, which will also affect inequality between countries.

These conclusions were reached by analysts of the International Monetary Fund (IMF), who said that this is a "worrying trend." "The era of artificial intelligence is on the verge of coming," the report says. In general, experts conclude that AI will have a significant impact on the global economy, and therefore governments must make sure that the technology is not used to harm.

As noted by the head of the IRF, Kristalina Georgieva, many countries do not have the infrastructure or skilled labor force to take advantage of AI. Therefore, the technology may increase inequality between countries.

At the same time, in developed countries, AI will not only take jobs away from people, but also bring benefits. IMF analysts believe that the integration of artificial intelligence into work will be positive in 50% of cases. In other situations, AI will perform tasks instead of humans, reducing the demand for labor.

"In many cases, artificial intelligence is likely to complement human work... Historically, automation and information technology have affected routine tasks. But one of the differences between AI is its ability to affect highly skilled jobs. As a result, advanced economies face great risks associated with artificial intelligence, but also a large number of opportunities for its use - compared to emerging and developing countries," the IMF said.

In addition, analysts see another risk in the growing social inequality within the countries themselves. "We may see a polarization of income levels between workers who can use AI to increase their productivity and salaries and those who cannot," the experts note.

"In most scenarios, AI is likely to increase overall inequality, which is a cause for concern. This is a trend that policymakers must actively address to keep the technology from further fueling social tensions. It is crucial that countries take up the creation of comprehensive social protection systems and retraining programs for vulnerable workers," the IMF recommends.

The Fund has already created a special index that helps to assess the readiness of different countries to actively implement AI in the labor market. Using the index, IMF staff evaluated 125 countries.

"Wealthier countries, including developed and some emerging markets, are generally better prepared to implement AI than low-income countries, although there are significant differences between them. Singapore, the United States, and Denmark scored the highest," the IMF said.

As reported by OBOZ.UA, according to alternative studies, in 10 years, by 2033, AI will allow millions of employees to reduce the working week to 4 days. AI can significantly increase labor productivity, allowing people to get more time for rest and self-development.

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