AI can be threatening to employees

Prospect of replacing humans is high

Upskilling and reskilling the only way to combat issue

Flagging the risks that Artificial Intelligence (AI) may have on the global job prospects, IMF chief has said that it may affect 60% jobs in advanced economies. 

At the same time, the chief also highlighted that AI could be an opportunity to boost productivity levels and propel global growth. 

However, the IMF noted that labour markets in emerging markets and developing economies will be less impacted by AI. But it added that it is less likely to benefit from the enhanced productivity as a result of its integration in the workplace. 

It is to be noted that the implications of AI will be vast. Keeping this in mind, governments will have to bring in policies in order to thwart the negative effects on employment and livelihood. Employees will have to upskill and reskill in order to embrace AI, rather than be antagonistic towards it. 

While the threats of AI eating into human employment are real, the IMF’s observation should come as a warning. Global leaders should evolve strategies in which machines and human beings work harmoniously and for a better future.