Nearly 40% jobs may disappear in coming month by Artificial Intelligence (AI), IMF warns

The International Monetary Fund (IMF) warns that nearly 40% of jobs worldwide could be impacted by the rise of artificial intelligence (AI), potentially exacerbating inequality.

IMF chief Kristalina Georgieva calls for governments to establish social safety nets and retraining programs to address the consequences of AI. The impact is expected to be more profound in advanced economies, where up to 60% of jobs could be affected.

In contrast, emerging markets and lower-income nations may face 40% and 26% job disruptions, respectively, with concerns that AI could worsen inequality in countries lacking infrastructure and skilled workforces.

READ MORE: Arab Media Forum: Artificial Intelligence in the spotlight, ‘Is it friend or foe’ in the media landscape?

Georgieva emphasizes the need for proactive policymaking to prevent AI from fueling social tensions, and she acknowledges both the transformative potential and risks associated with AI in the global economy.

Some experts and industry insiders, however, aren’t too worried about the rise of AI and remain unimpressed with the technology. While discussing AI models with the BBC, Nick Clegg, Meta’s president of global affairs, went so far as to say, “In many ways, they’re quite stupid.” Even OpenAI founder Sam Altman believes current AI tools are “wildly overhyped.”

Don’t misunderstand, though; it isn’t that the machines aren’t rising. It’s that they’re rising much more slowly than some of the more breathless media coverage might have you believe — which is great news for most of those who think AI-powered technology will soon steal their jobs.