The International Monetary Fund (IMF) estimates that about 40% of jobs worldwide could be affected by artificial intelligence, with this impact being more pronounced in advanced economies
AI presents opportunities for increased productivity and growth, but also challenges job security and economic equality. It can either enhance jobs or render them obsolete
In advanced economies, up to 60% of jobs may be influenced by AI. This could lead to a split where some jobs gain in productivity and efficiency, while others face reduced demand or elimination
Emerging markets and low-income countries are expected to see a lower impact, with AI affecting 40% and 26% of jobs, respectively. However, these regions might struggle to fully capitalize on AI's benefits due to infrastructural and skill gaps
There's a risk that AI could exacerbate global inequality, with developed countries potentially making greater economic gains from AI adoption compared to their developing counterparts
Higher-income and younger workers might disproportionately benefit from AI, experiencing wage increases and productivity boosts. In contrast, lower-income and older workers could struggle to adapt, leading to increased inequality
The lack of infrastructure and skilled workforce in many low-income countries raises concerns that they might not be able to harness the benefits of AI effectively, widening the gap between them and more developed nations
While some jobs may disappear, others will evolve with AI integration, necessitating a shift in skills and roles within the workforce
The IMF emphasizes the importance of social safety nets and retraining programs to make the AI transition more inclusive and equitable, aiming to protect livelihoods and curb inequality
The impact of AI on jobs remains a topic of debate, with differing opinions on the extent and nature of its influence on various job markets and the future workforce