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The 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐌𝐨𝐧𝐞𝐭𝐚𝐫𝐲 𝐅𝐮𝐧𝐝 just released an analysis titled “𝐆𝐞𝐧-𝐀𝐈: 𝐀𝐫𝐭𝐢𝐟𝐢𝐜𝐢𝐚𝐥 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐖𝐨𝐫𝐤”. https://lnkd.in/d9R8pZXh Here are a few takeaways: “𝐀𝐫𝐭𝐢𝐟𝐢𝐜𝐢𝐚𝐥 𝐢𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 (𝐀𝐈) 𝐢𝐬 𝐬𝐞𝐭 𝐭𝐨 𝐩𝐫𝐨𝐟𝐨𝐮𝐧𝐝𝐥𝐲 𝐜𝐡𝐚𝐧𝐠𝐞 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐞𝐜𝐨𝐧𝐨𝐦𝐲” “𝐀𝐈 𝐰𝐢𝐥𝐥 𝐚𝐟𝐟𝐞𝐜𝐭 𝐢𝐧𝐜𝐨𝐦𝐞 𝐚𝐧𝐝 𝐰𝐞𝐚𝐥𝐭𝐡 𝐢𝐧𝐞𝐪𝐮𝐚𝐥𝐢𝐭𝐲. Unlike previous waves of automation, which had the strongest effect on middle-skilled workers, AI displacement risks extend to higher-wage earners” “Harnessing the advantages of AI will depend on countries’ preparedness and the 𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐨𝐟 𝐰𝐨𝐫𝐤𝐞𝐫𝐬 𝐭𝐨 𝐚𝐝𝐚𝐩𝐭 𝐭𝐨 𝐭𝐡𝐢𝐬 𝐧𝐞𝐰 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲” “𝐓𝐡𝐞 𝐩𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐢𝐦𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐀𝐈 𝐝𝐞𝐦𝐚𝐧𝐝 𝐚 𝐩𝐫𝐨𝐚𝐜𝐭𝐢𝐯𝐞 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡 𝐟𝐫𝐨𝐦 𝐩𝐨𝐥𝐢𝐜𝐲𝐦𝐚𝐤𝐞𝐫𝐬 geared toward maintaining social cohesion.” In brief, 𝐚𝐫𝐭𝐢𝐟𝐢𝐜𝐢𝐚𝐥 𝐢𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 𝐢𝐬 𝐚𝐬𝐤𝐢𝐧𝐠 𝐟𝐨𝐫 𝐡𝐮𝐦𝐚𝐧 𝐞𝐧𝐠𝐚𝐠𝐞𝐦𝐞𝐧𝐭 to build a better future for everybody. #ai #machinelearning #equality

Interesting article from the BBC on the impact of AI on the workforce; really highlights the need to consider how work is / will be carried out when considering an organisations future workforce shape and size. Given the activity looking to address diversity issues, it will be interesting to see how organisations approach this.

🤖 Automated Ambitions: AI's Astounding Affect on Employment "...embrace it, it is coming, so artificial intelligence, yes, a little scary. But it is also a tremendous opportunity for everyone." 👀 The latest report from the IMF has some eye-opening insights about the impact of Artificial Intelligence (AI) on the global workforce. ✨ Here are some key takeaways: AI's Growing Influence: AI is expected to impact a staggering 60% of jobs in advanced economies, according to IMF Managing Director Kristalina Georgieva. 🌐 Varied Impact Across Economies: Advanced economies and some emerging markets will see 60% of jobs impacted. In emerging markets, the impact is estimated at 40%. Low-income countries might see a 26% impact. 👜 A Mixed Bag of Effects: Half of the affected jobs may face negative consequences. The other half could benefit from increased productivity and income levels due to AI enhancements. 🚧 Challenges and Opportunities: There's a risk of widening the digital divide and income disparity across countries. 👵 Older workers might be more vulnerable to these changes. However, AI also presents significant opportunities for enhancing job productivity. Call for Policy Action: The IMF emphasizes the need for policies to help low-income countries leverage AI opportunities. 💡 Insight: This data highlights the duality of AI's impact on the workforce. While it brings challenges, particularly for low-income countries and older workers, it also opens doors to unprecedented #productivity gains. The key lies in embracing and adapting to this #inevitable change. 🔍 What's your take on AI's role in shaping our professional futures? Let's discuss in the comments below! 👇 #futureofwork #artificialintelligence #globaleconomy #futureisnow #careerdevelopment #softwaredevelopment #ai #aiadoption #aiadvancements

IMF Report: 'Gen-AI: Artificial Intelligence and the Future of Work' My thought process... (following my reading of the first 10 pages out of the 42-page report and reviewing comments from experts on the subject) 1. From my perspective, men are likely to be the most affected by new technologies unless they adapt quickly and effectively. This is reminiscent of a recent article in FAZ, where a German Nobel Prize-winning professor cautioned against developing AI as it might lead to increased unemployment. In today's rapidly evolving world, survival hinges not on the fittest, but on those most adaptable to new technology. This is a pivotal insight from the recent IMF report on Artificial Intelligence (AI), highlighting AI's potential to profoundly transform the global economy and labor markets. The report reveals distinct patterns in AI exposure, indicating that WOMEN and COLLEGE-EDUCATED individuals, while more vulnerable, are also better positioned to capitalize on AI advancements. In contrast, older workers may struggle to adapt to these technological changes. 2. A major concern is the potential increase in labor income inequality, particularly if AI integrates more effectively with the work of high-income individuals, thus exacerbating wealth disparities through capital returns. On this note, the I propose a provocative idea: we should prioritize the use of AI for those who have not had privileges, rather than allowing it to further benefit the already privileged. Given these shifts, it's imperative to reassess job roles and their societal value. My recommendation: Caregiving roles, for example, whether for one's own parents or for others, need to be revalued and appropriately compensated, possibly even more than traditional professions like law. This reassessment is crucial in an AI-dominated future. Advanced economies need to revamp regulatory frameworks and support labor reallocation to safeguard those negatively impacted. Concurrently, emerging markets must focus on developing digital infrastructure and skills to fully harness AI's potential. #AI #FutureOfWork #IMFReport

#AI is set to significantly transform the global economy, particularly labor markets. This transformation may lead to increased productivity, but also poses risks of job displacement and could exacerbate income and wealth inequalities. For example: Global Employment Exposure to AI -> Approximately 40% of global employment is at #risk due to AI exposure. In advanced economies, about 60% of jobs are exposed to AI, primarily due to the prevalence of cognitive-task-oriented jobs. Call for action: AI Preparedness Index (AIPI) -> The AIPI assesses countries' readiness for AI adoption and shows considerable variation across different economies. Advanced economies score higher in the index, indicating better preparedness for leveraging AI benefits and addressing associated risks. #SmartLeadership https://lnkd.in/eT8sZpQg

AI and the future of work, analysis from International Monetary Fund "Artificial Intelligence (AI) has the potential to reshape the global economy, especially in the realm of labor markets. Advanced economies will experience the benefits and pitfalls of AI sooner than emerging market and developing economies, largely due to their employment structure focused on cognitive-intensive roles. There are some consistent patterns concerning AI exposure, with women and college-educated individuals more exposed but also better poised to reap AI benefits, and older workers potentially less able to adapt to the new technology. Labor income inequality may increase if the complementarity between AI and high-income workers is strong, while capital returns will increase wealth inequality. However, if productivity gains are sufficiently large, income levels could surge for most workers. In this evolving landscape, advanced economies and more developed emerging markets need to focus on upgrading regulatory frameworks and supporting labor reallocation, while safeguarding those adversely affected. Emerging market and developing economies should prioritize developing digital infrastructure and digital skills" https://lnkd.in/er_hYQkR #AI #HR #Futureofwork

🌍 AI and the Future of Work: A Global Shift A recent IMF study → shows that 40% of jobs worldwide are at risk of AI disruption, with developed countries seeing up to 60% affected. While some roles will benefit from AI integration, others may see reduced demand and lower wages. The digital divide is deepening, and the message is clear: adapting to AI is no longer optional. https://lnkd.in/eeDds3iX

The latest analysis from the International Monetary Fund reveals that artificial intelligence is set to affect nearly 40% of all jobs. It echoes a report from Goldman Sachs in 2023, which estimated AI could replace the equivalent of 300 million full-time jobs. How do you envision AI shaping the future of your industry, based on the insights from the article? Read more: https://lnkd.in/ejZze6E7 #AI #ArtificialIntelligence #FutureOfWork #TechTrends

International Monetary Fund Staff Discussion Note on "Gen-AI: Artificial Intelligence and the Future of Work" highlights the transformative power of AI, but warns of an increase in labour income inequality and expects almost 40% of global employment will be exposed to AI. The report suggests that college-educated workers are better prepared to adapt to the AI revolution, but older workers are likely to struggle. The full report is available here 👉: https://lnkd.in/eQ-s_8-W #artificialintelligence #generativeai #futureofwork #ethics #economy #labourmarket #productivity #srilanka #uk #university

AI has the potential to increase productivity by automating routine tasks and freeing up human workers to focus on more complex and creative tasks. According to a report by PwC UK, AI could contribute up to $15.7 trillion to the global economy by 2030 . However, the impact of AI on employment is a major concern, with some studies suggesting it could lead to higher income inequality as technologists and managers design AI to substitute for human labor read more: https://lnkd.in/gujM896N