TECH - IMF Pitches 'Strengthening Corporate Taxes' And 'Supplemental' Taxes To Fight Against Impact Of AI On Jobs And Inequality | Benzinga
The International Monetary Fund (IMF) has raised a red flag on the potential of artificial intelligence (AI) to exacerbate inequality, urging governments to take measures to protect their economies.
What Happened: The IMF expressed “profound concerns” about the possibility of significant labor disruptions and increased inequality as societies transition to generative AI, according to a report released on Monday.
The IMF suggested that countries should enhance unemployment insurance and be prepared for job losses in higher-skilled occupations, a departure from previous disruptive technologies.
The IMF acknowledged the potential of generative AI to boost productivity growth and improve public service delivery but cautioned about the associated labor disruptions and rising inequality. The IMF also highlighted the need for a shift in education and training policies to prepare workers for a rapidly changing job market.
“New generative-AI technologies hold immense potential for boosting productivity and improving the delivery of public services, but the sheer speed and ...