IMF Chief Warns AI will Affect 40% of All Jobs | Job Market Crisis | Vantage with Palki Sharma

With each leap in AI, the same question arises:

will

it take over our

jobs

? This time the head of the international monetary fund intervenes and says that yes, AI

will

affect

the labor

market

. In fact, she painted a more worrying picture. The head of the IMF said that AI will

affect

the labor

market

like a tsunami interesting choice of words a tsunami destroys everything, destroys buildings and people, is what AI will do to the labor market. Well, the head of the IMF had some figures for the next 2 years. AI could affect 60% 60 60% of

jobs

in the developed world and generally 40% worldwide.

Now these numbers are worrying not only because of how high they are but also because of the 2 year time period, there is almost no time in the job market, so we must prepare quickly. Listen to what the head of the IMF has said, I'm quoting, that we have very little time to prepare people and companies. AI can increase the amount we produce and make things more efficient, but it could also increase misinformation and widen income gaps, that's what she said there are three points or takeaways from this, firstly, it's not completely bad, the IMF says that 60% of jobs will be affected, but being affected does not mean replaced in half of these cases.

AI will improve your productivity, make your job easier and not to mention create new jobs, the AI ​​revolution will create over 97 million new jobs, new roles, new jobs, which brings us to the second conclusion, yes, some will be lost jobs. Goldman Sachs made a prediction last year: it believes AI will replace 300 million full-time jobs. You can guess that some of them like coding. The best AI models can write complicated code. They are also much easier than humans. Another example is customer service, such as call centers or chat support. The new AI models can hold a conversation so that they can definitely solve their problems again. much faster than humans, TCS CEO has dire warning, says AI could wipe out Indian call centers within a year, same as tutors Chad GPT yesterday released a demo showcasing the AI ​​model which teaches mathematics, you can ask questions, you can even draw diagrams and figures. taking quizzes many teachers already use the GPT chat a teacher from Virginia actively encourages her students to do that, she says that the GPT chat can be a person, a discussion partner for some, a job recruiter for others, so in Right now AI is making teachers more productive, but how long before it takes over the work or diminishes it and that's the third point.

AI could increase inequality. Let me explain how consider the example of coding before AI needed humans to write everything but now Chad GPT can do it, he just needs the human to verify it, you see the problem here, coding pays a lot of money but verification doesn't, for While AI could dramatically reduce wages in some jobs, it may eventually widen the pay gap and this applies even as richer countries will adapt to AI more quickly. they will have more money, they will have more money, so they will be able to invest a lot more in AI, but poorer countries cannot do that and this can lead to a technology and wage gap, so in summary there are three factors at play , many new jobs are created. of jobs being lost and a new trigger for financial inequality in general terms, this is how artificial intelligence will affect the labor market the question is how to prepare well for it time is of the essence AI is moving much faster than expected, so if you're already in the job market, your task is pretty simple: start using AI tools, find some way to integrate them, use them to get an edge over your peers, but what if you're not there yet?

Are you in the workforce? Then set your thinking limit. We said that artificial intelligence will create 97 million new jobs find out what they are: the World Economic Forum has listed some examples, such as AI trainers, people who make and design these models, or data curators, people who collect data to train these models, or ethics officers, people who act as a moral compass. for AI models or even AI content creators, people who explain how everything works, these are all new and emerging jobs, the key is to find them and prepare for them and like I said, do it quickly.

Chad GPT came out at the end of 2022, we thought it was revolutionary, but in less than 2 years it has gone further, they can identify items in your surroundings, do your shopping for you, conduct interviews for you, even tutor your children, so Imagine what the next generation will be like. I suppose the IMF

chief

's assessment is quite accurate. It's like a tsunami heading into the job market. We have the warning. We can see the big waves. Now is the time to prepare. First publication. Reports from the world's second largest continent. Hi, I'm Allison Lrange. A very warm welcome from Durban South.

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