AI set to impact 60% of jobs in developed economies: IMF

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A new report by the International Monetary Fund found that higher skilled jobs will likely face higher a impact from artificial intelligence. This can present both challenges and opportunities.

Artificial intelligence (AI) could affect 60% of jobs in developed economies, according to a study published by the International Monetary Fund ahead of the World Economic Forum in Davos.

The study predicted that around half of those jobs will be negatively affected by AI, while the other half will see a positive impact.

“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,” IMF Managing Director Kristalina Georgieva told the AFP news agency.

“And the more you have higher skilled jobs, the higher the impact,” she added.

Less impact in the developing world

The impact is expected to be different in the developing world, with 40% of jobs in emerging markets set to be impacted and 26% of jobs in low-income countries.

But while these labor markets are set to see a smaller initial impact from AI, they are also less likely to benefit from the increased productivity that AI promises.

“We must focus on helping low income countries in particular to move faster to be able to catch the opportunities that artificial intelligence will present,” Georgieva told AFP.

“So artificial intelligence, yes, a little scary. But it is also a tremendous opportunity for everyone.”

Courtesy of DW