• About
  • Advertise
  • Careers
  • Contact Us
Sunday, June 22, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home News

AI will Affect 40% of Jobs in Emerging Markets – IMF

by Techeconomy
January 16, 2024
in News
2
Kristalina Georgieva, managing director of IMF
Kristalina Georgieva, managing director of IMF

Kristalina Georgieva, managing director of IMF

UBA
Advertisements

Almost 40 per cent of jobs globally will be influenced by artificial intelligence (AI), the International Monetary Fund (IMF) has predicted.

The world body said that advanced economies are expected to experience a higher impact compared to emerging markets and low-income countries.

In a blog post, Kristalina Georgieva, managing director of IMF, called on governments to establish social safety nets and offer retraining programmes to counter the impact of AI.

“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,” she wrote ahead of the yearly meeting of the World Economic Forum (WEF) in Davos, Switzerland, where the topic will be a key talking point.

Sam Altman, Chief Executive of ChatGPT-maker OpenAI, and his biggest backer, Satya Nadella, Microsoft CEO will speak at the event later this week as part of a programme that includes a debate today on ‘Generative AI: Steam Engine of the Fourth Industrial Revolution?’

As AI continues to be adopted by more workers and businesses, it is expected to both help and hurt the human workforce, Georgieva noted in her blog.

Echoing previous warnings from other experts, Georgieva said the effects were expected to be felt more deeply in advanced economies than emerging markets, partly because white-collar workers are seen to be more at risk than manual laborers.

In more developed economies, for example, as much as 60 per cent of jobs could be impacted by AI. Approximately half of those may benefit from how AI promotes higher productivity, she said.

“For the other half, AI applications may execute key tasks currently performed by humans, which could lower labor demand, leading to lower wages and reduced hiring,” wrote Georgieva, citing the IMF’s analysis.

“In the most extreme cases, some of these jobs may disappear.”

In emerging markets and lower-income nations, 40 per cent and 26 per cent of jobs are expected to be affected by AI, respectively. Emerging markets refer to places such as India and Brazil with sustained economic growth, while low-income countries refer to developing economies with per capita income falling within a certain level such as Burundi and Sierra Leone.

“Many of these countries don’t have the infrastructure or skilled workforces to harness the benefits of AI, raising the risk that over time the technology could worsen inequality,” noted Georgieva.

She warned that the use of AI could increase chances of social unrest, particularly if younger, less experienced workers leveraged the technology to help boost their output while more senior workers struggle to keep up.

AI became a hot topic at the WEF in Davos last year as ChatGPT took the world by storm. The chatbot sensation, which is powered by generative AI, sparked conversations on how it could change the way people work around the world due to its ability to write essays, speeches, poems and more.

Since then, upgrades to the technology have expanded the use of AI chatbots and systems, making them more mainstream and spurring massive investments.

Some tech firms have already directly pointed to AI as a reason they are rethinking staffing levels.

While workplaces may shift, widespread adoption of AI could ultimately increase labor productivity and boost global GDP by seven per cent yearly over 10 years, according to a March 2023 estimate by Goldman Sachs economists.

Georgieva also cited opportunities to boost output and incomes around the world with the use of AI.

“AI will transform the global economy,” she wrote. “Let’s make sure it benefits humanity.”

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: ChatGPTIMFJobJobs
Techeconomy

Techeconomy

Next Post
NERC issues license to 12 companies

NERC Issues Power Generating Licence to Ekiti, 12 Others

Comments 2

  1. Pingback: DYQUE Cube Launches in Nigeria as World's First 5-in-1 AI-powered Solar Powerhouse
  2. Pingback: Immersive Media Startup VUZ Raises $12m to Expand in Africa, Asia, and U.S.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

CBN Approves Dollar Sales by Payment Service Banks

3 years ago
Tinubu and Google

Tinubu Meets Google CEO Sundar Pichai…See What They Discussed

4 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.