40% jobs being affected globally through AI: IMF
IMF Managing Director Kristalina Georgieva claimed in a blog post that AI will worsen the inequality and will prevent the policymakers from further intensification. AI will affect 60% of jobs in advanced economies which gives an average of 40% jobs globally. This is because the rise of AI has been hailed by some of the most important technological revolutions in more than a century.
"Your job may disappear altogether -– not good –- or AI may enhance your job, so you actually will be more productive and your income level may go up." the IMF chief said. Georgieva cautioned 2024 is likely to be a very tough year for physical policies worldwide in countries from Covid19. She also stressed the importance of helping low income countries seize the opportunities by AI. The IMF is said to publish an updated economic forecast this month informing that the global economy is on track to meet previous projections.
Artificial intelligence risks job security around the world but also offers a "tremendous opportunity" to boost some productivity levels. Some companies have also raised concern among employees by heavily investing in AI. The report also predicts that markets which are emerging and developing will experience a smaller initial impact from AI.
Report by Garima Joshi
Graphic by Khushi Gupta
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