The International Monetary Fund (IMF) has said that artificial intelligence (AI) could affect a large number of jobs and raise global inequality.
The body’s managing director, Kristalina Georgieva, said: ‘In most scenarios, AI will likely worsen overall inequality.’
The IMF said that about 60% of jobs in advanced economies will be affected by AI, compared to about a quarter of jobs in the less developed world.
However, the effect of AI would not always be negative, with the technology also helping to boost productivity for some jobs.
The benefit of AI was most likely to be felt by people in developed countries and younger workers, the IMF said, which could lead to an increase in inequality.
Georgieva said: ‘It is crucial for countries to establish comprehensive social safety nets and offer retraining programmes for vulnerable workers. In doing so, we can make the AI transition more inclusive, protecting livelihoods and curbing inequality.’