Realistic HD photo of the impacts of Artificial Intelligence (AI) on social inequalities

The Impact of Artificial Intelligence on Social Inequalities

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The rapid spread of artificial intelligence (AI) has the potential to affect almost 40% of jobs worldwide and potentially worsen global inequalities, according to the International Monetary Fund (IMF). In a recent report, IMF Chief Kristalina Georgieva called on governments to create social safety nets and offer retraining programs to address the impact of AI.

Georgieva emphasizes that AI is expected to have both positive and negative effects on the human workforce. Advanced economies are likely to be more affected than emerging markets. Traditional jobs, especially those with higher levels of responsibility, appear to be more vulnerable to the negative impacts of AI.

It is estimated that advanced economies could witness up to a 60% impact on jobs due to AI. The increased productivity facilitated by AI could have positive effects on 50% of these jobs, while the remaining positions could be automated, leading to a decreased demand for labor and lower wages. In the most emerging and low-income countries, the percentage of affected jobs is estimated at 40% and 26% respectively.

Georgieva warns that the implementation of AI could increase the risk of social unrest, particularly if younger and less experienced workers invest in technology to improve their productivity, leaving more experienced workers facing difficulties.

Despite the risks, the use of AI could lead to a 7% annual increase in global GDP and productivity over a 10-year period, according to economists at Goldman Sachs. Georgieva, in her article, also highlights the opportunities for increased production and income worldwide through the use of artificial intelligence.

FAQ:

– Who warned about the impact of artificial intelligence on jobs?
The International Monetary Fund (IMF) Chief, Kristalina Georgieva.

– What measures are proposed to address the impact of AI?
Governments are urged to create social safety nets and offer retraining programs.

– What percentage of jobs is estimated to be affected by artificial intelligence?
In advanced economies, it is estimated that up to 60% of jobs could be impacted by AI.

– How will wages be affected by the expansion of AI?
The expansion of AI could lead to decreased demand for labor and lower wages.

– How much could global GDP increase due to the use of AI?
According to economists at Goldman Sachs, the use of AI could result in a 7% annual increase in global GDP over a 10-year period.

Definitions:
– Artificial Intelligence (AI): Technology that designs and develops computational systems with the ability to function, among other things, like humans, including the ability to learn from data and adapt.

Recommended Related Links:
Goldman Sachs website

Article (in Greek):
The International Monetary Fund (IMF) has warned that the spread of artificial intelligence (AI) could affect almost 40% of jobs worldwide, potentially exacerbating global inequalities. IMF Chief Kristalina Georgieva has called on governments to create social safety nets and offer retraining programs to address the impact of AI, according to a report. According to Georgieva, AI is expected to have both positive and negative impacts on the human workforce. As she points out, advanced economies are expected to be more affected than emerging markets. Traditional jobs, particularly those with greater responsibility, appear to be more vulnerable to the negative impacts of AI. It is estimated that advanced economies could be affected by up to 60% of jobs by AI. The increased productivity facilitated by AI can have positive impacts on 50% of these jobs, while the rest may perform tasks currently undertaken by humans, resulting in reduced labor demand and wages. In the most emerging and low-income countries, the percentage of affected jobs is 40% and 26% respectively. Georgieva warns that the implementation of AI could increase the risk of social unrest, particularly if younger and less experienced workers invest in technology to improve their productivity, leaving more experienced workers facing difficulties. Despite the risks, the use of AI can lead to a 7% annual increase in productivity and global GDP over 10 years, according to Goldman Sachs economists. Georgieva, in her article, also highlights opportunities for increased production and income worldwide through the use of artificial intelligence.