Forty percent of jobs will be affected by artificial intelligence (AI) in the coming years, according to a recent analysis by the International Monetary Fund (IMF).
AI stealing Jobs
Artificial intelligence (AI) will affect 40 percent of jobs in the future, according to a recent analysis by the International Monetary Fund (IMF). IMF Managing Director Kristalina Georgieva said that the picture of inequality around the world will become more stark due to AI.
“Planners around the world should take this trend seriously and take steps to ensure that this technology does not increase social tensions, as the spread of AI can create as many risks as it has benefits,” said Georgieva. AI will have a direct impact on nearly 60 percent of jobs in developed countries.
Employees will benefit from AI and it will also increase their productivity,” he noted. After the adoption of AI, there will be a sudden increase in the wages of high income group workers and young employees. Low-income but senior workers will lag behind in terms of wages, the IMF said.
A safety net has to be created
Some countries will need to create a comprehensive social safety net to prevent the effects of AI and urgently train workers who are at risk. As a result, the transition due to ‘AI’ will be more inclusive and will not lose people’s jobs. If these changes happen, the disparity will not increase,’ said Georgieva.
Benefits of ‘AI’ to Manufacturing Sector
Davos – Senior entrepreneur and Chairman and Managing Director of Godrej Industries, Nadir Godrej, expressed his belief that the right use of artificial intelligence (AI) can achieve new heights in manufacturing, healthcare etc. in the country during the annual meeting of the World Economic Forum here. AI has great potential to help various sectors by optimizing processes, it should be seen as an opportunity, he noted.
He also expressed confidence that India is moving in the right direction on climate related issues and can achieve its zero carbon emission target before the deadline. Climate change, geo-political conflicts, geo-economic concerns and the opportunities and threats created by ‘AI’ are the main topics of discussion in this meeting.
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