‘Jobs may disappear’ | IMF: AI will affect up to 40% of jobs and widen inequality

Analysis from the International Monetary Fund (IMF) finds AI will affect up to 40% of jobs globally, potentially leading to job loss and deepening inequality.

The report, released on 14 January 2024, finds that AI will especially impact labor markets across the global economy. AI will hit advanced economies first, where the proportion of affected jobs may rise to 60%, due to a greater proportion of knowledge worker roles.

IMF’s analysis identifies older workers as at risk of being less able to adapt to AI technology. It also finds labor income equality may increase if there is a strong connection between AI and high-income workers.

Authors Cazzaniga, Jaumotte, Li, Melina, Panton, Pizzinelli, Rockall, and Tavares recommend emerging markets focus on “upgrading regulatory frameworks and supporting labor reallocation while safeguarding those adversely affected.”