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In an interview, shortly before departing for the World Economic Forum in Davos, Switzerland, Kristaline Georgieva, said that AI is set to impact about 60 percent of the jobs that are in advanced economies and around 40 % jobs globally.
Delving deeper into the matter, she contends that while artificial intelligence introduces challenges to job security globally, it concurrently provides a "tremendous opportunity" to revitalize declining productivity levels and drive growth on a global scale.
"Your job may disappear altogether -- not good -- or artificial intelligence may enhance your job, so you actually will be more productive and your income level may go up," Georgieva explained.
According to AFP, only half of the jobs that will be affected by AI will be negatively impacted; the rest may benefit from increased productivity due to AI.
Nevertheless, the impact of AI is anticipated to be uneven, with labor markets in emerging and developing economies likely experiencing a milder initial influence. However, these regions may also miss out on the heightened productivity gains that AI integration in the workplace can offer.
The International Monetary Fund (IMF) is scheduled to release updated economic forecasts later this month. Georgieva hinted at the global economy staying broadly in line with previous forecasts, poised for a "soft landing."
Yet, she cautioned that 2024 could pose significant challenges for fiscal policies worldwide as nations grapple with addressing debt accumulated during the COVID-19 pandemic and rebuilding diminished reserves.
As billions prepare to cast their votes this year, governments face added pressure to either boost spending or reduce taxes to secure popular backing. Georgieva expressed concern that global governments might embark on significant spending this year, potentially jeopardizing the gains made in the battle against high inflation.
With Georgieva's tenure as the head of the IMF concluding this year, she declined to comment on the possibility of seeking a second term. "I have a job to do right now and my concentration is on doing that job," she remarked.
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