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  • Writer's pictureBy The Financial District

AI To Snatch 40% Of Global Employment: IMF

Almost 40% of jobs worldwide could be affected by the rise of artificial intelligence (AI), a trend likely to deepen inequality, according to the International Monetary Fund (IMF), Michelle Toh reported for CNN.

At least 300 million jobs could be affected by the latest wave of AI.

In a Sunday blog post, IMF chief Kristalina Georgieva called for governments to establish social safety nets and offer retraining programs to counter the impact of AI.

“In most scenarios, AI will likely worsen overall inequality, a troubling trend that policymakers must proactively address to prevent the technology from further stoking social tensions,” she wrote ahead of the World Economic Forum (WEF) in Davos, Switzerland, where the topic is set to be high on the agenda.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

In emerging markets and lower-income nations, 40% and 26% of jobs are expected to be affected by AI, respectively.

As AI continues to be adopted by more workers and businesses, it’s expected to both help and hurt the human workforce, Georgieva noted.

Echoing previous warnings from other experts, Georgieva said the effects were expected to be felt more deeply in advanced economies than emerging markets, partly because white-collar workers are seen to be more at risk than manual laborers.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

At least 300 million jobs could be affected by the latest wave of AI, Goldman Sachs says. In more developed economies, for example, as much as 60% of jobs could be impacted by AI.

Approximately half of those may benefit from how AI promotes higher productivity, she said.

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