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International Monetary Organization: Artificial intelligence may lead to a widening gap between rich and poor
International Monetary Organization: Artificial intelligence may lead to a widening gap between rich and poor
The International Monetary Organization (IMF) recently released a report stating that mankind is facing an upcoming technological revolution. This revolution promises to boost productivity, drive global growth, and raise income levels around the world. However, this revolution may also lead to the replacement of some jobs, thereby exacerbating the gap between rich and poor and uneven development. This report reminds us that we need to actively face this technological revolution and adopt appropriate policies and measures to ensure that people can share the dividends of technological development and avoid the exacerbation of inequality.
Picture source Pixabay
IMF researchers conducted a study on the potential impact of AI on global labor markets. Research results show that approximately 40% of global jobs are affected by AI. Unlike past automation and information technologies, AI is unique in its ability to impact high-skilled jobs.
The IMF pointed out that developed economies face greater risks from AI, but also enjoy more opportunities to harness the benefits of AI.
According to data, about 60% of jobs in developed economies may be affected by artificial intelligence. About half of these jobs are expected to be more productive through AI, while the other half are likely to see reduced labor requirements as AI performs critical tasks. This situation can result in reduced salaries, reduced hiring, or even, in extreme cases, the disappearance of some jobs.
Report analysis shows that the popularity of AI may exacerbate income and wealth inequality within countries. Specifically, one may observe polarization between income classes: workers who are able to use AI to increase productivity and wages will be better compensated, while those who cannot apply AI technology may fall behind others. . Research also points out that AI helps less experienced workers become more productive faster. Younger workers may have an easier time seizing these opportunities, while older workers may face difficulty adapting to new technologies. To sum up, the development of AI may have a profound impact on the labor market within each country and exacerbate income inequality.
According to an earlier report by IT House, the CEO of Stability AI once said that the advancement of artificial intelligence technology has greatly reduced the manpower required to develop software, which may lead to the unemployment of many Indian programmers.
Generative AI will have different impacts on different types of jobs, but not everyone will be affected equally, he added.
This is due to different laws and protection measures in different countries. Programmers in France enjoy greater protections and are therefore less likely to be fired. Outsourced programmers in India may disappear in the next year or two because they have less protection.
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