The International Monetary Fund (IMF) has released a new report on the impact of artificial intelligence (AI) and generative AI (genAI) that paints a complex picture of the future.
According to the IMF, AI and genAI have the potential to revolutionize productivity and global growth, but they also pose a threat to jobs and economic inequality.
The IMF’s analysis suggests that nearly 40% of global employment will be affected by genAI, with advanced economies like the US and Europe facing even higher exposure at 60%.
This could lead to increased income inequality and lower wages, even as companies benefit from AI-related productivity gains.
However, the study also found that about half of the jobs affected by AI and genAI could see enhanced productivity, while the other half could face lower labor demand, reduced hiring, and even job loss.
Despite the potential risks, the IMF believes that AI could complement human work and lead to income surges for most workers, especially in advanced economies and developed emerging markets.
AI’s impact on high-skilled jobs is a particular concern, as it has the potential to disrupt labor markets and create both risks and opportunities for advanced economies compared to emerging markets and developing economies.
The World Economic Forum (WEF) has also highlighted the potential for AI to eliminate jobs while creating new opportunities in fields like big data, machine learning, information security, and digital marketing.
AI roles are already in high demand, with a study by Thomson Reuters finding that 27% of all tech jobs advertised in the UK require AI skills.
2024-01-24 18:00:03
Original from www.computerworld.com