Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), said that artificial intelligence will affect 60% of jobs in advanced economies.
In an interview with the Agence France Presse (AFP) during her participation in the Davos Forum, Georgieva explained that advanced economies and some emerging markets will see 60% of jobs affected, referring to a report published by the Fund on Sunday about this matter.
The Fund’s Director added that the impact will be 40% for emerging markets and 26% for low-income countries, explaining that about 40% of the global workforce is exposed to artificial intelligence.
The IMF report clarified that half of the jobs affected by artificial intelligence will be negatively impacted, while the rest could actually benefit from productivity gains thanks to this technology.
Georgieva elaborated, saying: “Your job could disappear, which is not a good thing, or artificial intelligence could enhance your job, making you more productive and potentially raising your income level.”
According to the Fund, while artificial intelligence has a lesser impact on emerging markets and developing countries, these regions are less likely to benefit from the advantages offered by this technology.
The report highlights that this could exacerbate the “digital divide” and income disparity across and within countries, noting that older workers are more likely to be affected by the changes caused by artificial intelligence.
Georgieva stated that the IMF sees a significant opportunity for policy guidance to help address these concerns. She called for a focus on assisting low-income countries specifically to move faster to be able to exploit the opportunities presented by artificial intelligence.
AI is increasingly being integrated into various sectors, bringing both opportunities and challenges. According to the American Enterprise Institute, AI is expected to augment, rather than replace, human labor. New technologies, including AI, have historically led to the creation of new jobs and value, rather than the end of work. However, this does not imply that every worker will benefit uniformly from AI. The impact of AI on employment will be uneven and difficult to predict, with AI tools enhancing human capabilities and potentially empowering people to achieve more.
Research from the Brookings Institution highlights that workforce ecosystems are evolving with AI, changing the design of work, the supply of labor, the conduct of work, and the measurement of work and workers. AI is increasingly playing a significant role within corporate contexts, displacing workers through automation, augmenting human performance, and creating new job categories. This has implications for management theory, organizational behavior, social welfare, and policymaking, particularly in areas such as worker flexibility, equity, and data governance.