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IMF Managing Director Kristalina Georgieva predicts that AI will impact around 40% of jobs worldwide.
In a blog post on Sunday, Georgieva cited a recent IMF analysis on the issue, stating that “developed countries face greater risks from AI, but have seen less benefits from AI than emerging market and developing countries.” There are many opportunities to take advantage of it.”
Georgieva said this is because of AI’s “ability to impact highly skilled jobs.” He also added that in developed countries, around 60 percent of jobs could be affected by AI.
“About half of exposed jobs could benefit from AI integration and increase productivity. For the other half, AI applications have the potential to perform critical tasks currently performed by humans. “This could reduce demand for labor, leading to lower wages and job cuts,” Georgieva wrote.
“In the most extreme cases, some of these jobs could disappear,” she added.
By comparison, Georgieva expects emerging markets and developing countries to see “less immediate disruption from AI.”
Nevertheless, Georgieva called on policymakers to prevent potential inequalities and social tensions that AI could bring about. He also called on countries to “put in place comprehensive social safety nets and provide retraining programs for vulnerable workers.”
The IMF is not alone in sounding the alarm about AI. In March, Goldman Sachs said in a report that AI could destroy more than 300 million jobs.
LinkedIn Vice President Anesh Raman said in a podcast interview in November that AI will make technical skills less valuable and soft skills more important.
“Degree expiration dates have shortened pretty dramatically,” Raman told Molly Wood, host of Microsoft’s WorkLab podcast.
Representatives from the IMF did not immediately respond to a request for comment from Business Insider outside of regular business hours.
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