Artificial Intelligence likely to affect 40% of global workforce – IMF

The International Monetary Fund (IMF) has predicted that 40 percent of the global workforce will be affected by the introduction of Artificial Intelligence. 

According to the IMF, though AI has improved productivity, it is likely to render many jobless in the coming years.

“A recent IMF study shows that artificial intelligence could affect up to 40 percent of jobs across the world and 60 percent in advanced economies.

The IMF in January this year also predicted that “AI could also affect income and wealth inequality within countries.

Research shows that AI can help less experienced workers enhance their productivity more quickly.

Moreover, gains in productivity from firms that adopt AI will likely boost capital returns, which may also favour high earners

“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