AI Threatens 40% of Jobs, Urges Social Safety Nets
Artificial intelligence (AI) is predicted to have a profound impact on the global economy, with around 40% of jobs worldwide at risk of being affected, according to the International Monetary Fund (IMF). The head of the IMF, Kristalina Georgieva, emphasized the importance of building social safety nets to cushion the impact on vulnerable workers. Advanced economies, such as the United States and the United Kingdom, are particularly susceptible to disruption from AI.
A recent analysis by the IMF reveals that approximately 60% of jobs in advanced economies are exposed to AI, and half of these jobs may suffer negative consequences. However, the report highlights that AI can also enhance the productivity of certain individuals, improving their performance. Jobs that have a high complementarity with AI, meaning the technology assists rather than replaces the workers, include roles involving significant responsibility and interaction with people, like surgeons, lawyers, and judges. Conversely, jobs with a low complementarity to AI, like telemarketing, face a higher risk of displacement. Occupations with low exposure to AI include dishwashers and performers.
In emerging market economies such as China, Brazil, and India, there is a 40% exposure to AI-related job risks. Low-income countries have a slightly lower exposure of 26%, resulting in a global average of just under 40%. Additionally, the emergence of generative AI, which can generate text, images, and even voice based on simple hand-typed prompts, has raised concerns. Prominent figures warn that highly skilled jobs in advanced economies face an even greater risk of disappearing.
While the impact of AI on jobs raises concerns about potential inequality, it is important to note that the technology also offers opportunities for positive transformation. The IMF advises that countries must be proactive in preparing their workforces for the changes brought about by AI. This includes investing in education and training programs to equip workers with the skills needed to adapt to the evolving job market. Furthermore, efforts should focus on developing social safety nets to support vulnerable workers who may face displacement or economic hardship due to the adoption of AI.
As the global economy continues to be shaped by technological advancements, it is vital for governments and organizations to collaborate in navigating the complex challenges posed by AI. A balanced approach that harnesses the benefits of AI while minimizing its negative effects on workers is necessary. By investing in social safety nets and prioritizing the well-being of individuals, societies can strive towards a more inclusive and resilient future.
Sources:
– The Guardian, Jan. 15, 2024.
