Employment

IMF Released a Report on How 40% Jobs Can Be Lost Because of AI

IMF Released a Report on How 40% Jobs Can Be Lost Because of AI

Artificial intelligence has come into our lives with both boons and its pitfalls. As there is a seismic shift taking place in the global employment landscape, the IMF is now issuing a stark warning.

They suggest that nearly 40% of the jobs would be disturbed and proliferated by AI by this year. The IMF chief Kristalina Georgieva has raised serious concerns about how we are getting dependent on AI which can seriously cause harm to worldwide employment.

Georgieva even urged the governments of the respective countries to take serious steps about this. He also exclaimed that AI can even worsen the overall concept of inequality in our workforce. Hence, it’s important to proactively address this issue and prevent technology from causing any sort of social tension.

To impose the gravity of this situation, Georgieva even wrote a petition to the World Economic Forum as well.

The Summit then took place this Monday and WEF created an awareness about these concerns in detail to talk about the impact of AI in the workplace.

After making a scrutinous analysis, Georgieva cited that AI can also make certain jobs disappear as well. It can potentially harm productivity and can cut down half of the job workforce. Georgieva even mentioned that high-performing economies or first-world countries are likely to bear the brunt of this situation. In first-world countries, more than 60% of jobs can be potentially impacted by the advent of AI.

However, she also mentioned that third-world countries are also not immune to such problems. She underscored that AI can also exacerbate inequality in these regions due to the unavailability of a skilled workforce.

Besides these, Georgieva even highlighted that AI can also significantly fuel social unrest. Even though tech-savvy workers would still be able to grasp this properly, their senior counterparts would find it very difficult to adapt.

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Titas Ghosh Chaudhury
Titas is a lawyer with a penchant for writing. In her leisure hours she likes to read books and collect Pokemon plushies and stay updated with different law judgements.

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