The IMF said artificial intelligence will affect 40 percent of jobs: “You could lose your job or you could be more productive.”

Kristalina Georgieva, IMF Director (Europa Press)

artificial intelligence (AI) pose occupational safety risks around the world, but also offers “tremendous opportunity“To boost falling levels of productivity and boost global growth,” he said. AFP Director of IMF, Kristalina Georgieva,

“60 percent of jobs in advanced economies and some emerging markets will be affected,” he said in an interview in Washington, citing a new report. International Monetary Fund (IMF) on this topic.

“And then it drops to 40 percent for emerging markets, drops to 26 percent for low-income countries,” he said, referring to the IMF report, which shows that, overall, about 40% of global Employment is exposed to AI.

The report said Half of the jobs affected by AI will be negatively affectedWhile the rest of us can actually benefit from increased productivity due to AI.

,You may lose your job completelywhich is not good, or that artificial intelligence makes your work better, so that you More productive and your income level increasesGeorgieva explained to AFP shortly before leaving for the World Economic Forum in Davos, Switzerland.

According to the IMF, although AI will initially have less impact on emerging markets and developing economies, they are also less likely to benefit from the benefits of the new technology.

,This could increase the digital divide and income inequality between countriesThe report further states that older workers will likely be more vulnerable to the changes brought about by AI.

New systems may improve employee productivity, but they may also change jobs (illustrative image from Infobay)

Georgieva said the IMF sees an important opportunity for policy prescriptions to help address these concerns. AFP,

,We should focus on helping low-income countriesIn particular, to be able to move faster to take advantage of the opportunities presented by artificial intelligence,” he said.

“In other words, embrace it, it’s coming,” he said. “so Yes, artificial intelligence is a little scary. But it is also a tremendous opportunity for everyone.,

Georgieva said the IMF will release updated economic forecasts later this month, which will show the global economy is on track to meet its previous forecasts.

“It’s set for a soft landing,” he said, adding, “Monetary policy is working well, inflation is coming down, but the job is not done.”

“So we meet here The difficult situation of not easing monetary policy too quickly or too slowly“, he claimed.

The global economy could get a boost from AI-related productivity, which the IMF estimates will continue to grow at historically low levels in the medium term.

Georgieva said 2024 would likely be a “very difficult year” for fiscal policy around the world, as countries try to deal with debt burdens accrued during the COVID-19 pandemic and rebuild depleted reserves.

Additionally, billions of people will go to the polls this year, putting additional pressure on governments to increase spending or cut taxes to regain popular support.

According to Georgieva, the IMF’s concern is that governments around the world will spend too much this year and undermine progress. It has cost them too much to achieve this in the fight against high inflation,

Georgieva, whose five-year term as head of the IMF expires this year, declined to answer whether she intended to run for a second term as head of the international financial institution.

He declared, “Right now I have one thing to do and I’m focused on doing that thing.”

(With information from AFP)

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