AI will be bad news for plenty of workers, warns IMF chief

Article

AI will be bad news for plenty of workers, warns IMF chief

AI is likely to worsen economic inequality, according to the IMF chief.
"If you're unlucky, your job is gone," Kristalina Georgieva told the World Economic Forum in Davos.
Her warning comes as a survey by PwC finds CEOs are considering more layoffs this year.

The rise of artificial intelligence is likely to trigger layoffs and increase economic inequality, the International Monetary Fund's managing director warned on Tuesday.

Kristalina Georgieva said in an interview at the World Economic Forum in Davos that AI will soon put some workers in developed economies out of a job.

"Sixty percent of jobs in advanced economies over a foreseeable future are going to be impacted by artificial intelligence," she told Bloomberg TV.

"If you're lucky, artificial intelligence will enhance your productivity, make your job more enjoyable, and very likely better paid. If you're unlucky, your job is gone."

The more fortunate workers will have their jobs enhanced and will make more money, Georgieva added, but there is "no social safety net" for the other group. "They're going to be in trouble, and then across countries, inequality would grow."

......