'AI is affecting the job market like a tsunami, IMF chief Georgieva stressed on doing this work'
AI: The IMF chief has warned that in the next two years, AI could impact 60 percent of jobs in developed countries and 40 percent of jobs worldwide. Georgieva stressed the importance of being prepared for these changes.
Artificial intelligence (AI) is going to drastically alter the labor market, according to International Monetary Fund chief economist Kristalina Georgieva. He compared its arrival to a "tsunami" on the market.
In the following two years, artificial intelligence (AI) may affect 40% of jobs globally and 60% of jobs in developed nations, he warned. The necessity of being ready for these changes was emphasized by Georgieva.
"We've had very little time to prepare people for this, very little time to prepare businesses for this," she said. Through AI we can increase how much we produce and make things more efficient. But it could also amplify misinformation and widen the income gap. He highlighted the need for careful management to get the most out of AI.
"If we manage it well, it could lead to a tremendous increase in productivity, but it could also lead to more misinformation and, of course, more inequality in our society," Georgieva said.
