Your job may disappear altogether as AI will impact 40% jobs, finds IMF analysis
11 months, 1 week ago

Your job may disappear altogether as AI will impact 40% jobs, finds IMF analysis

Live Mint  

An analysis by the International Monetary Fund has found that close to 40 percent of jobs worldwide will be affected by artificial intelligence, with advanced economies facing more exposure than emerging markets and low-income countries, as per a Bloomberg report. Kristalina Georgieva, Managing Director of the IMF expressed concerns in a blog post, stating that in most scenarios, AI is likely to worsen overall inequality. AI Job Impact Scenarios The analysis suggests that while there is potential for AI to fully replace some jobs, the more likely scenario is its complementarity with human work. Georgieva's insights on AI coincide with discussions among global business and political leaders at the World Economic Forum in Davos, Switzerland, where AI is a prominent topic.

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History of this topic

JPMorgan’s Jamie Dimon predicts AI reducing work weeks to 3.5 days, says ‘Tech has always replaced jobs, but…’
3 weeks, 6 days ago

JPMorgan’s Jamie Dimon predicts AI reducing work weeks to 3.5 days, says ‘Tech has always replaced jobs, but…’

Live Mint  

JPMorgan CEO Jamie Dimon believes artificial intelligence will enhance businesses and work-life balance, potentially reducing workweeks for employees to 3.5 days in the future, according to a Fortune report. Speaking to Bloomberg TV, Dimon said thousands at JP Morgan are already using AI adding that the technology is an evolving and “living breathing thing”. Op But Dimon sought to move …

Employment firm Randstad warns of inequality regarding knowledge and use of AI
1 month ago

Employment firm Randstad warns of inequality regarding knowledge and use of AI

NL Times  

Employment group Randstad is warning of an increasing knowledge inequality in dealing with artificial intelligence. Although three-quarters of the companies now use AI in their work, according to research conducted by Randstad, only 35 percent of staff members received AI training in the last year. Only one in five from the baby boomer generation have been offered training in AI, …

AI may displace 3m private sector jobs in UK, says thinktank
1 month, 2 weeks ago

AI may displace 3m private sector jobs in UK, says thinktank

New Indian Express  

Artificial intelligence could displace between 1m and 3m private sector jobs in the UK, though the ultimate rise in unemployment will be in the low hundreds of thousands as growth in the technology also creates new roles, according to Tony Blair’s thinktank, The Guardian has reported. Between 60,000 and 275,000 jobs will be displaced every year over a couple of …

AI Empowers the Workforce: A Paradigm Shift in Workplace Dynamics
2 months ago

AI Empowers the Workforce: A Paradigm Shift in Workplace Dynamics

India Today  

The future of work is being reshaped, but not in the way many feared. Adecco Group's 'Global Workforce of the Future 2024' report reveals that AI isn't replacing workers; it's empowering them. The survey reveals a transformative shift in workplace dynamics, with AI emerging as a powerful ally rather than a threat. The most telling statistic? A substantial leap in …

Economic Survey | AI casts “huge pall of uncertainty” over jobs
5 months ago

Economic Survey | AI casts “huge pall of uncertainty” over jobs

The Hindu  

The Economic Survey published on Monday warned against the potential challenge that artificial intelligence could present to the Indian economy saying the “advent of the tech casts a huge pall of uncertainty as to its impact on workers across all skill levels – low, semi and high.” The massive changes owing to widespread adoption of AI “will create barriers and …

Will AI lead to job cuts in India? Economic Survey warns these sectors
5 months ago

Will AI lead to job cuts in India? Economic Survey warns these sectors

Hindustan Times  

The biggest disruption for the future of work is the accelerated growth in artificial intelligence, which is poised to revolutionise the global economy. As AI systems become smarter and more prevalent, the future of work will change significantly, said the economic survey prepared under the guidance of chief economic advisor V Anantha Nageswaran. If Generative AI significantly boosts the marginal …

AI destroys jobs but also creates employment
5 months ago

AI destroys jobs but also creates employment

China Daily  

WANG XIAOYING/CHINA DAILY Although greater use of artificial intelligence in industrial and business applications will, while increasing productivity and economic growth, lead to overall loss of employment and jobs in the long term is still being debated, the issue is of great importance to China. The expected impact of greater application of AI and related technologies, including robotics, in various …

AI Can Exacerbate Job Losses, Market Fall and Supply Chain Errors in Next Downturn: IMF
6 months, 3 weeks ago

AI Can Exacerbate Job Losses, Market Fall and Supply Chain Errors in Next Downturn: IMF

Deccan Chronicle  

Chennai: In the next downturn, artificial intelligence can exacerbate job losses, financial market losses and supply chain errors across countries. In order to remain prepared, countries have to ensure that tax systems favour people over automation, workers are protected from AI labour market disruptions and financial institutions make disclosures on usage of AI, said Gita Gopinath, first deputy managing director …

AI will affect every industry and upend most careers: Expert
7 months, 3 weeks ago

AI will affect every industry and upend most careers: Expert

The Hindu  

The impact of Artificial Intelligence on the global economy will be $7 trillion to $15 trillion over a period of ten years, with Japan and the US calling the shots, according to Sree Sreenivasan, CEO and co-founder, Digimentors. Speaking at a session on ‘AI: Beyond the Hype and Backlash,’ organised by Technopark-based company Reflections Info Systems here on Monday, he …

AI a job killer? In California it’s complicated
9 months ago

AI a job killer? In California it’s complicated

LA Times  

For the thousands of tech workers recently laid off in California and across the country, the future may not be as bleak as it looks right now: Many are likely to retrain fairly quickly for new jobs in the burgeoning field of artificial intelligence. “What we’re seeing is a lot of tech companies are actually monetizing the AI solution,” said …

Which entertainment jobs are most likely to be disrupted by AI? New study has answers
10 months, 3 weeks ago

Which entertainment jobs are most likely to be disrupted by AI? New study has answers

LA Times  

An estimated 62,000 entertainment jobs in California spanning film, TV, music and gaming will be disrupted by the rise of artificial intelligence within the next three years, a new study says. And if they feel like they’re going to be able to cut budgets in order to meet shareholder projections or whatever, then they’re going to try to exploit that …

AI will impact 40% of jobs globally, says IMF chief
11 months, 1 week ago

AI will impact 40% of jobs globally, says IMF chief

The Hindu  

Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity levels and fuel global growth, the IMF chief told AFP. With AI expected to have less effect in developing countries, around "40% of jobs globally are likely to be impacted," she said, citing a new IMF report. "Your job may …

Artificial Intelligence will affect almost 40% jobs globally: IMF report
11 months, 1 week ago

Artificial Intelligence will affect almost 40% jobs globally: IMF report

Hindustan Times  

Artificial intelligence will affect almost 40% of global jobs, with advanced economies facing greater exposure than emerging markets and low-income countries, according to an International Monetary Fund analysis. Artificial intelligence will affect almost 40% of global jobs: IMF “In most scenarios, AI will likely worsen overall inequality, a troubling trend that policymakers must proactively address to prevent the technology from …

Artificial Intelligence to impact about 40 per cent jobs globally: IMF
11 months, 1 week ago

Artificial Intelligence to impact about 40 per cent jobs globally: IMF

India TV News  

Nearly 40 per cent of global jobs will be impacted by artificial intelligence, with advanced economies facing more exposure than emerging markets and low-income countries, according to an International Monetary Fund analysis. According to a media report, IMF Managing Director Kristalina Georgieva said in a blog post that, in most scenarios, AI is likely to exacerbate overall inequality, emphasising the …

Artificial intelligence will have real job consequences this year
11 months, 2 weeks ago

Artificial intelligence will have real job consequences this year

Live Mint  

Mumbai: A wider deployment of artificial intelligence technology by India Inc will likely make 15,000-20,000 jobs redundant this year, as a large number of coding profiles, system maintenance and support functions at junior levels get automated. “In the short run for sure, there will be a very distinct impact on jobs that are purely process-driven and can be automated, as …

'We all got AI-ed': The Australian jobs being lost to AI under the radar
1 year ago

'We all got AI-ed': The Australian jobs being lost to AI under the radar

ABC  

Australians are already losing work to AI, but the impact so far has been largely hidden from view. "There's definitely a data issue," says Amit Singh, managing partner at the economic advisory firm Mandala. "That's 20 contractors gone, because what we're now using is AI motion capture." "The jobs that are most exposed AI generally tend to also create opportunities …

Is your job at risk from AI? Use our tool to find out
1 year ago

Is your job at risk from AI? Use our tool to find out

The Telegraph  

Are you at risk of being replaced by artificial intelligence? The rise of advanced AI tools such as ChatGPT and Stable Diffusion, which generates images based on text prompts, has sparked fears that millions of jobs could be replaced by the technology. The report also found that workers in London and the South East were the most vulnerable, with those …

AI likely to augment rather than destroy jobs: UN study
1 year, 4 months ago

AI likely to augment rather than destroy jobs: UN study

The Hindu  

Artificial Intelligence is more likely to augment jobs than to destroy them, a UN study indicated on Monday, at a time of growing anxiety over the potential impact of the technology. "Therefore, the greatest impact of this technology is likely to not be job destruction but rather the potential changes to the quality of jobs, notably work intensity and autonomy." …

Artificial Intelligence not leading to job losses, says IT Ministry
1 year, 5 months ago

Artificial Intelligence not leading to job losses, says IT Ministry

The Hindu  

The Ministry of Electronics and Information Technology said on July 21 that the rise of Artificial Intelligence was not leading to any job losses, and was in fact on track to increase India’s Gross Domestic Product. Rajya Sabha BJP MP Sushil Kumar Modi had asked “whether Government has evaluated socio economic impact of generative AI on job losses”. In a …

How AI could help solve Australia's 'productivity problem' without leaving workers worse off
1 year, 6 months ago

How AI could help solve Australia's 'productivity problem' without leaving workers worse off

ABC  

Artificial intelligence has helped Fiona Dixon's team save about 2,700 working hours in the past six months. "AI has been a really great investment that we've made here," Ms Dixon, a partner heading up business transformation at accounting firm HLB Mann Judd, told The Business. Jobs we haven't even heard of Global investment firm Goldman Sachs predicts AI will improve …

Column: What it looks like when jobs disappear in the shadow of AI
1 year, 7 months ago

Column: What it looks like when jobs disappear in the shadow of AI

LA Times  

BuzzFeed Chief Executive Jonah Peretti says his company will use AI to produce new kinds of content “without increasing fixed costs” — but insists that had nothing to do with recent layoffs. “And recent developments in artificial intelligence represent an opportunity to take this convergence to the next level.” AI, he said, was making brand-new kinds of content possible and …

14 million jobs worldwide will vanish in the next 5 years, new economic report finds
1 year, 7 months ago

14 million jobs worldwide will vanish in the next 5 years, new economic report finds

CNN  

London CNN — Huge disruptions will rock the global job market over the next five years as the economy weakens and companies boost adoption of technologies such as artificial intelligence. WEF — which hosts a gathering of global leaders in Davos, Switzerland, every year — found that employers expect to create 69 million new jobs by 2027 and eliminate 83 …

Goldman Sachs predicts AI could replace 300 million jobs. Know which sectors will be impacted most
1 year, 8 months ago

Goldman Sachs predicts AI could replace 300 million jobs. Know which sectors will be impacted most

India TV News  

Goldman Sachs, an investment banking company, has predicted that Artificial Intelligence could replace as many as 300 million full-time jobs, as various sectors see the adaption of AI in multiple industries in the future. According to BBC, various job sectors may see the impact of AI if it delivers on the proposed capabilities. Almost two-thirds of current jobs may get …

Goldman Sachs reveals jobs at risk of AI replacement, sounds alarm
1 year, 8 months ago

Goldman Sachs reveals jobs at risk of AI replacement, sounds alarm

India Today  

The debate of AI replacing human jobs in the future has escalated on a wide scale as many people have adopted Artificial Intelligence to get their work done. A report from Goldman Sachs says that AI is capable of replacing two–thirds of jobs in the US and the European Union because these regions are well exposed to AI automation. The …

HAMISH MCRAE: Labour's lost in new AI world?
1 year, 10 months ago

HAMISH MCRAE: Labour's lost in new AI world?

Daily Mail  

Shakespeare would be spinning in his grave. AI has been around since the 1960s but, like so many potentially exciting technologies, has taken a long time to have much economic impact. The future: AI has been around since the 1960s but, like so many potentially exciting technologies, has taken a long time to have much economic impact But last November …

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