Meet the New Guy at Work: Study Says AI Will Impact 40 Percent of Global Jobs

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There’s a new virtual employee coming to jobsites near you and its name is AI. The question is – will he be coming after your job?

According to latest data, an analysis released by the International Monetary Fund predicts at least 40 percent of jobs across the globe will be impacted by AI. The number rises to 60 percent in what are considered to be advanced economies.

The news worsens as the Washington DC based IMF went on to predict the onset of AI in the workplace would “worsen overall inequality.”

IMF Chief Kristalina Georgieva described our time as “the brink of a technological revolution that could jumpstart productivity, boost global growth, and raise incomes around the world.” But warned, “it could also replace jobs and deepen inequality.”

Due to technology requirements, the analysis reports that approximately 60 percent of jobs in high-income nations could be affected, with around half these jobs benefiting from increased productivity due to AI enhancements. In emerging markets, about 40 percent of jobs could be impacted, with 26 percent of the workforce in low income nations feeling the effect.

Since low income nations lack the skilled workers and technology required to utilize the benefits of AI, the economic disparity in these nations could increase compared to advanced economies, deepening the inequality divide, says the analysis.

All is not gloom and doom for everyone, however, as skilled workers who are able to boost productivity through using AI could see salary increases. In some cases, the addition of AI to the workplace may be utilized in a complementary fashion, not necessarily a replacement for team members. However, those who turn a blind eye to the new technology run the risk of falling behind, warns the report.

Leading investment banking and securities firm, Goldman Sachs, estimates AI could spark significant growth and increase the gross domestic product by 7 percent, while simultaneously predicting it could impact as many as 300 million jobs across the globe.

As business and political leaders gather at the World Economic Forum this week, Georgieva of the IMF urges policymakers to “proactively address” misgivings about the artificial intelligence “to prevent the technology from further stoking social tensions.”

How will the landslide of AI technology affect your workplace? What should employees do to stay relevant in this new landscape? Keep reading here.

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