AI Takes a Big Bite Out of Jobs
In groundbreaking news, the International Monetary Fund has released a report on artificial intelligence and its impact on the global economy. According to IMF chief, Kristalina Georgieva, advanced economies are set to lose 60 percent of their jobs due to AI, while around 40 percent of jobs globally will be affected, with higher skilled positions feeling a greater impact.
However, it’s not all doom and gloom. The report highlights that only half of the jobs impacted by AI will be negatively affected, with the rest actually benefiting from increased productivity. This means that your job may not be in jeopardy after all, but could actually see a boost in productivity and income.
The report also notes that emerging markets and developing economies are less likely to benefit from AI’s productivity gains due to less of an initial impact. But never fear – Georgieva assures that AI is not just a scary ordeal. She sees it as a tremendous opportunity for everyone and believes low-income countries should be helped to catch the opportunities presented by AI.
This all comes ahead of the IMF’s updated economic forecasts later this month. Georgieva sees the global economy on track to meet previous forecasts and poised for a soft landing. However, she predicts a tough year ahead for fiscal policy worldwide, with the pressure of elections and the ongoing fight against high inflation.
So, what do you think of AI’s impact on the global economy? Is it really a tremendous opportunity for everyone, or should there be caution moving forward? Let us know in the comments!
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