Guwahati: Artificial intelligence (AI) poses risks to job security around the world but also offers a “tremendous opportunity” to boost flagging productivity levels and fuel global growth, the IMF chief told AFP.
The International Monetary Fund’s managing director, Kristalina Georgieva said in an interview in Washington that AI will affect 60 percent of jobs in advanced economies.
“And the more you have higher skilled jobs, the higher the impact,” she added.
However, the IMF report published on Sunday evening notes that only half of the jobs impacted by AI will be negatively affected; the rest may actually benefit from enhanced productivity gains due to AI.
“Your job may disappear altogether — not good — or artificial intelligence may enhance your job, so you actually will be more productive and your income level may go up,” Georgieva said.
“Jobs that require nuanced judgment, creative problem-solving, or intricate data interpretation — traditionally the domain of highly educated professionals — may now be augmented or even replaced by advanced AI algorithms,” the IMF report says.
“In most scenarios, AI will likely worsen overall inequality, a troubling trend that policymakers must proactively address to prevent the technology from further stoking social tensions,” Georgieva warned.
The global economy could use an AI-related productivity boost, as the IMF predicts it will continue growing at historically muted levels over the medium term.
“God, how much we need it,” Georgieva said. “Unless we figure out a way to unlock productivity, we as the world are not for a great story.”