International Monetary Fund Managing Director Kristalina Georgieva has issued a dire warning about the potential ramifications of the AI revolution on the global job market.
What Happened: Georgieva, in a speech at the Swiss Institute of International Studies in Zurich, cautioned that the AI revolution could have a catastrophic effect on the global job market, reported business Insider. She likened the impact to a “tsunami” and stressed the urgent need for individuals and businesses to prepare for it.
“We have very little time to get people ready for it, businesses ready for it,” she said. “It could bring tremendous increase in productivity if we manage it well, but it can also lead to more misinformation and, of course, more inequality in our society.”
The IMF chief predicted in January that AI would affect nearly 40% of jobs globally. She emphasized that while AI could significantly boost productivity if managed effectively, it could also exacerbate misinformation and inequality.
Georgieva’s recent warnings coincide with the ...