AI will impact 40% of jobs globally, says IMF chief

Artificial intelligence presents both risks and opportunities for job security and global growth, according to the IMF chief.

Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity levels and fuel global growth, the IMF chief told AFP.

AI will affect 60% of jobs in advanced economies, the International Monetary Fund's managing director, Kristalina Georgieva, said in an interview in Washington, shortly before departing for the annual World Economic Forum in Davos, Switzerland.

With AI expected to have less effect in developing countries, around "40% of jobs globally are likely to be impacted," she said, citing a new IMF report.

"And the more you have higher skilled jobs, the higher the impact," she added.

However, the IMF report published Sunday evening notes that only half of the jobs impacted by AI will be negatively affected; the rest may actually benefit from enhanced productivity gains due to AI.

"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," Ms. Georgieva said.

The IMF report predicted that, while labour markets in emerging markets and developing economies will see a smaller initial impact from AI, they are also less likely to benefit from the enhanced productivity that will arise through its integration in the workplace.