AI will affect 40% of jobs globally: IMF

The news: Around 40% of global employment will be affected by artificial intelligence, and robust regulatory frameworks are essential to ensure the productivity boost doesn't lead to greater inequality, International Monetary Fund analysis shows.

The numbers: The analysis says AI will have a greater impact in advanced economies, affecting roughly 60% of jobs. Half of these will be enhanced by AI, while the other half could be at risk of replacement, reducing labour demand and likely lowering wages. Jobs in emerging markets and low-income economies are expected to be 40% and 26% exposed to AI respectively, but such nations are less likely to have the infrastructure or skills to take advantage of AI, potentially exacerbating inequality between nations, the IMF said.

The context: The rise of AI has been hailed by some as the most important technological revolution in more than a century. But as with most disruptive and rapidly evolving technologies, adequate and appropriate regulation is often two steps behind.

What they said: "In most scenarios, AI will likely worsen overall inequality, a troubling trend that policymakers must proactively address to prevent the technology from further stoking social tensions," IMF said in a statement. "The AI era is upon us, and it is still within our power to ensure it brings prosperity for all."