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Nearly 40% of all jobs are expected to be affected by artificial intelligence (AI), according to the International Monetary Fund (IMF).
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IMF's managing director, Kristalina Georgieva, warns that AI is likely to worsen overall inequality, emphasizing the need for policymakers to address this trend to prevent social tensions.
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In advanced economies, AI is projected to impact around 60% of jobs, with potential benefits for workers in terms of increased productivity.
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However, AI may also replace human tasks, affecting wages and possibly leading to job loss.
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The IMF predicts that low-income countries will experience AI's impact on only 26% of jobs, highlighting the potential for technology to exacerbate inequality between nations.
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The analysis suggests that higher-income and younger workers might see disproportionate wage increases with AI adoption, while lower-income and older workers could face challenges and fall behind.
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To mitigate the negative effects of AI, the IMF recommends establishing comprehensive social safety nets and offering retraining programs for vulnerable workers to make the transition.