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In advanced economies, artificial intelligence will impact about 60 percent of jobs, the IMF estimates. In half of these cases it leads to an increase in labor productivity. In other cases, AI will be able to take over important tasks currently performed by humans. This could reduce demand for workers, impact wages and even lead to job losses.
In low-income countries, the IMF estimates that artificial intelligence will impact about 26 percent of jobs. “Many of these countries do not have the infrastructure or skilled workforce to take advantage of the benefits of AI, increasing the risk that this technology could, over time, worsen inequality between nations,” Georgieva said.
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While higher earners and younger workers may see their wages rise disproportionately following the introduction of AI, lower earners and older workers would likely resent this.
“It is imperative that countries create comprehensive social safety nets and retraining programs,” Georgieva said. “In this way, we can make the transition to AI more inclusive, protect livelihoods and reduce inequality,” she added.
Last December, European Union officials reached a preliminary agreement on the world’s first comprehensive rules to regulate the use of AI. The final version of the so-called Artificial Intelligence Act will not come into force until 2025 at the earliest.
AI can replace 300 million workers
According to a report last year by the American investment bank Goldman Sachs, artificial intelligence could replace up to 300 million jobs worldwide. Artificial intelligence could lead to the creation of new jobs and increased productivity in various industries.
According to Martin Ford, an American futurologist and author of the book “Rule of the Robots: How Artificial Intelligence Will Transform Everything,” this could have dire consequences.
“It’s not just that it would happen to individuals, it could very well be systemic. It could happen to many people, all of a sudden, possibly all at once. And that has consequences not just for these individuals, but for the entire economy,” Ford said.
Mathias Döpfner, CEO of German media group Axel Springer, previously said that systems like ChatGPT could replace journalists, for example. “ChatGPT, for example, allows people with average writing skills to create essays and articles. Journalists will face more competition as a result,” Oxford University economist Carl Benedikt Frey told the BBC.
Artists are afraid too
Additionally, some artists and programmers are expressing concerns about their career prospects related to artificial intelligence. However, AI can also create new opportunities and jobs in areas where productivity and efficiency improvements are needed.
The Goldman Sachs report highlights that the use of artificial intelligence varies in different sectors and that more work tasks in government can be automated than in other industries, such as construction.
A phenomenon called ChatGPT
Artificial intelligence is at the heart of the development of ChatGPT. This chat system can generate a variety of texts based on simple queries, including articles, essays, jokes, and poems. ChatGPT learns to respond to user input and, like humans, learns from large amounts of data.
In March 2023, a more advanced GPT-4 AI model was made available. It should be able to provide safer and more useful answers and pave the way for the proliferation of human-like technologies.
The web application is offered free of charge by OpenAI, but this only applies to the older version of the chatbot GPT-3.5. GPT-4’s more advanced artificial intelligence, which provides more accurate and useful answers, can only be used by subscription owners. This costs potential prospects $20 per month, so about CZK 453 for conversion.
ChatGPT is behind OpenAI, a start-up funded by Microsoft.
The European Commission will shed light on the partnership between Microsoft and OpenAI
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