IMF Chief: AI will affect 60% of jobs in advanced economies

(Patria) - Artificial intelligence (AI) will affect 60 percent of jobs in advanced economies, International Monetary Fund Managing Director Kristalina Georgieva told AFP, just before leaving for the World Economic Forum in Davos, Switzerland.

"Advanced economies, some emerging markets, will have an impact on 60 percent of their jobs," she said, citing an IMF report published on Sunday on the topic.

"And then it goes down to 40 percent for emerging markets, 26 percent for low-income countries," she added, referring to the IMF report, which states that overall nearly 40 percent of global employment is exposed to AI.

The IMF report states that half of the jobs affected by AI will be negatively impacted, while the rest could benefit from increased productivity due to AI.

"Your job may completely disappear - not good, or artificial intelligence could enhance your job, so you will actually be more productive and your income level may rise," Georgieva said.

Although AI will initially have a smaller impact on developing markets and economies, they are less likely to benefit from the advantages of the new technology, according to the IMF.

"This could worsen the digital divide and income disparities among countries," the report continues, adding that older workers are likely to be more vulnerable to the changes brought by AI.

The IMF sees an opportunity to help address these concerns, Georgieva said.

"We need to focus on helping low-income countries move faster so they can seize the opportunities that artificial intelligence will provide."

"In other words, embrace it, it's coming," she added.

"So artificial intelligence is, yes, a little scary. But it is also a huge opportunity for everyone."