International Monetary Fund (IMF) chief Dr Kristalina Georgieva has warned of an artificial intelligence (AI) “tsunami” that could have a significant impact on the international labor market.
The IMF chief was speaking at an event organized by the Swiss Institute of International Studies when she said 6 out of every 10 vacancies in advanced economies could be affected.
As originally reported reutersGeorgieva’s harsh assessment indicated that the force could be felt within the next two years, “We have very little time to prepare people for this, to prepare businesses for this,” she said.
“If we manage it well it could lead to tremendous increases in productivity, but it could also lead to more misinformation and certainly more inequality in our society.”
Balance and flexibility will be important for the coming challenge, as employees adapt and develop skills to meet the challenges and opportunities presented. aye, In recent years, the widespread impact of the pandemic has provided a great example of how the industry can deal with severe disruption and emerge on the other side.
Threats and opportunities presented by AI
A recent survey was conducted by Microsoft revealed that nearly 50% of employees share concerns that AI will affect their job security.
2023 annual work trend index The survey was conducted from 31,000 respondents from 31 countries and despite lingering fears, 75% of employees now use AI in the workplace, with the feeling that the technology is a great tool that helps them in times of stress and high intensity. Allows to focus on essential tasks.
More than three-quarters of those questioned employ their own AI resources.
During this, Amazon has increased the number of robots working in its fulfillment centers from 350,000 in 2021 to 750,000 by mid-2023.
Scott Dresser, vice president of Amazon Robotics, commented on how robots are creating opportunities for workers, challenging the perception of the threat posed to workers by artificial intelligence.
“Over the past 10 years, we have introduced hundreds of thousands of robotics systems, while also creating hundreds of thousands of new jobs across our operations. This includes 700 categories of new job types in skilled roles that did not previously exist within the company.
These examples relate to IMF chief Georgieva’s warning, showing that workplace developments can be harnessed, but there are still significant risks posed by AI. Governments and big tech will need to build consensus on regulation if the tsunami is to be tackled.
Image Credit: Ideogram
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