IMF: Artificial Intelligence Will Affect 40% of Jobs

The rate at which artificial intelligence and its applications are spreading is astounding to institutions and analysts, and there is no shortage of opportunities to manage this phenomenon and the impact it can have on the job market.

According to an analysis by the International Monetary Fund, 40% of jobs worldwide will be related to artificial intelligence, some of which will be supported by new technologies with subsequent productivity gains. The other side of the coin is that many places could instead be completely replaced by computers. 40% of jobs are calculated at the global level, but the figure that quantifies the impact of AI as a percentage will reach 60% in the case of the most developed countries and fall to 26% in the poorest countries. Thus, on the one hand, it is an instrument, and on the other, it is a substitute, which will lead to lower wages and a narrowing of the labor market.

International Monetary Fund Director General Kristalina Georgieva explained this in an interview with AFP: “In advanced economies and some emerging markets, 60% of jobs will be affected. 40% in emerging markets and 26% in low-income countries. So, to seize opportunities and minimize risks, we need policies that make AI development safe and profitable. We are on the cusp of a technological revolution that has the potential to boost productivity, drive global growth, and raise incomes around the world, but at the same time displace jobs and deepen inequality,” she explained, also highlighting the huge potential upside of this innovation process.

Important are “questions about its potential impact on the global economy.” The ultimate effect is difficult to predict, because AI will spread across economies in complex ways. What we can say with some certainty is that we will need to develop a set of measures to safely harness the enormous potential of AI for the benefit of humanity.”

Risks also include the fact that low-income countries may lack the infrastructure and expertise to exploit this phenomenon, which could lead to worsening inequalities between countries.