Artificial Intelligence Set to Reshape 40% of Jobs, IMF Analysis Reveals
The International Monetary Fund (IMF) has projected that artificial intelligence (AI) could significantly influence approximately 40 per cent of jobs worldwide. This assessment, highlighted in an analysis by the global financial institution, underscores both the opportunities and risks posed by the rapid adoption of AI technologies.
Artificial Intelligence Set to Reshape 40% of Jobs, IMF Analysis Reveals
In contrast, lower-income nations are expected to experience a smaller effect, with just 26 per cent of jobs likely to be influenced by AI. These countries often lack the infrastructure and skilled labor necessary to fully leverage AI, raising concerns about widening global inequalities.
IMF Managing Director Kristalina Georgieva has urged policymakers to address these disparities. She highlighted the importance of creating social safety nets and retraining initiatives to support workers vulnerable to displacement. “These measures are essential to ensure the AI transition fosters inclusion while mitigating inequality,” she stated.
Higher-income and younger workers are anticipated to benefit disproportionately, with increased wages and opportunities stemming from AI adoption. Conversely, older and lower-income workers could face significant challenges, potentially exacerbating economic and social divides.
AI’s rapid evolution has prompted regulatory actions worldwide. In October, U.S. President Joe Biden issued an executive order requiring AI developers to share safety testing outcomes with federal agencies. A month later, the UK convened an AI Safety Summit, where participating nations signed a declaration promoting responsible AI development.
The European Union has also moved to establish comprehensive AI regulations, becoming the first region to introduce a legal framework governing the use and deployment of AI technologies. Meanwhile, China has implemented national rules targeting algorithm development and application, positioning itself as a global leader in AI governance.
The IMF’s analysis coincides with discussions at the World Economic Forum in Davos, where business and political leaders are exploring the implications of AI. The technology’s transformative potential, exemplified by applications like ChatGPT, has placed it at the center of global debates on innovation and inequality.
This assessment aligns with a 2023 report from Goldman Sachs, which estimated AI could replace 300 million full-time jobs globally while simultaneously driving productivity and creating new roles.
