(qlmbusinessnews.com Fri, 19th Jan, 2024) London, UK —
“Artificial Intelligence Set to Reshape Job Market, Triggering Inequality Concerns”
The International Monetary Fund (IMF) has released a new analysis revealing that artificial intelligence (AI) is poised to impact nearly 40% of all jobs, with managing director Kristalina Georgieva expressing concerns that “in most scenarios, AI will likely worsen overall inequality.”
🌍 Global Job Impact:
IMF predicts AI will affect around 60% of jobs in advanced economies, with potential benefits for half of these workers.
In low-income countries, the technology is expected to impact only 26% of jobs, citing challenges in infrastructure and skilled workforces.
💼 Impact on Workers:
Higher-income and younger workers may experience a disproportionate increase in wages after AI adoption.
Lower-income and older workers face a risk of falling behind in the changing job landscape.
🔍 Key Concerns:
IMF urges policymakers to address the “troubling trend” and prevent AI from exacerbating social tensions.
Ms Georgieva emphasizes the need for comprehensive social safety nets and retraining programs to make the AI transition inclusive and curb inequality.
🌐 Global Discussions at Davos:
The analysis coincides with discussions at the World Economic Forum in Davos, Switzerland, where AI's impact on the job market is a significant topic.
🌐 Global AI Regulations:
The technology faces increased regulation worldwide, including the EU's provisional deal on comprehensive AI laws and China's national regulations.
In October, President Biden signed an executive order requiring AI developers to share safety results with the US government.
🤝 International Collaboration:
The UK hosted an AI Safety Summit, where multiple countries signed a declaration on the safe development of AI technology.
🚀 AI's Future and Social Implications Discussed at Global Forum #AI #ArtificialIntelligence #JobImpact #Inequality #IMF #GlobalEconomy #TechRegulation
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