Artificial intelligence has the potential to revolutionize the global economy by increasing productivity, boosting economic growth, and lifting incomes. However, it also poses significant risks, including the potential to wipe out millions of jobs and exacerbate inequality. According to research, AI could endanger up to 33% of jobs in advanced economies, 24% in emerging economies, and 18% in low-income countries. On the other hand, AI can also enhance the productivity of existing jobs and create new ones, particularly in industries that leverage AI as a complementary tool.
The key challenge lies in ensuring that the benefits of AI are shared equitably, and that policymakers take proactive steps to mitigate its negative consequences. The IMF’s AI Preparedness Index Dashboard, which assesses 174 economies based on their readiness to adopt AI, reveals significant disparities between advanced and low-income countries. To address this, policymakers must prioritize investments in digital infrastructure, worker training, and regulation to ensure that AI benefits all segments of society.
