Georgieva emphasized how crucial it is to prepare for these adjustments. We don’t have much time to prepare individuals or businesses for it, the woman warned.
The chief of the International Monetary Fund, Kristalina Georgieva, has predicted that artificial intelligence (AI) will have a profound impact on the labor market, hitting it “like a tsunami.”
She issued a warning, stating that artificial intelligence (AI) might impact 40% of jobs globally and 60% of occupations in industrialized nations in the next two years.
Georgieva emphasized how crucial it is to prepare for these adjustments. “We have very little time to get people and businesses ready for it,” the speaker stated.
AI has the potential to raise productivity and improve efficiency, but it also has the potential to spread misinformation and widen income disparities. She emphasized that to fully utilize AI, rigorous management is required.”If we handle it properly, it could lead to a huge boost in productivity, but it can also lead to more misinformation and, naturally, more inequality in our society,” Georgieva continued.
The claims coincide with major tech companies fully investing in more potent iterations of their AI algorithms. Recently, OpenAI released a new GPT-4o model that is available to all users for free. Additionally, the GPT-4o upgrade gives the chatbot a more conversational, nearly human-like voice. Additionally, it has real-time vision and response capabilities. Several new AI features, including some for Android 15 and more, will be unveiled by Google today at I/O 2024.
Status of the global economy
The worldwide economy is performing better than anticipated despite issues like the COVID-19 outbreak and the conflict in Ukraine. According to Georgieva, there isn’t a worldwide recession at the moment, and the concerns expressed last year about economies contracting didn’t materialize. In numerous locations, the pace of price increases, or inflation, has begun to decelerate.
Georgieva believes that obstacles to the global economy will persist, particularly those brought on by climate change. Strong plans must be in place, in her opinion, to address both the present and foreseeable issues.
