Tag: inequality

Unveiling the Dark Side: The Dangers of Artificial Intelligence

Unveiling the Dark Side: The Dangers of Artificial Intelligence

Welcome to the unveiling of a secretive and mysterious world that lies beyond our screens. A realm where algorithms have transcended their programming, evolving into something far more sinister. In this gripping blog post, we dive headfirst into the dark side of Artificial Intelligence (AI), exposing its hidden dangers lurking beneath its seemingly innocuous façade. Brace yourself as we peel back the layers of this technological marvel, exploring its potential threats to privacy, autonomy, and even humanity itself. Get ready for a mind-bending journey through the treacherous landscape of AI – buckle up, because things are about to get […]

Technological progress needs direction, not just speed

Technological progress needs direction, not just speed

Two operators supervise the manufacturing and development process of customized automation robotic arms in an industrial robot distribution center. wera Rodsawang (Getty Images) You may have heard the fable about the future of factories, where only one dog and one person are working. The human is there to feed the dog, and the dog is there to make sure the human does not bother the robots. And in such a future, which might seem like science fiction , many questions arise: What will the workers who used to manufacture products do now? How will they pay their rent in […]

The AI era is upon us

The AI era is upon us

Kristalina Georgieva

We are on the brink of a technological revolution that could jumpstart productivity, boost global growth and raise incomes around the world. Yet it could also replace jobs and deepen inequality.

The rapid advance of artificial intelligence has captivated the world, causing both excitement and alarm, and raising important questions about its potential impact on the global economy. The net effect is difficult to foresee, as AI will ripple through economies in complex ways. What we can say with some confidence is that we will need to come up with a set of policies to safely leverage the […]

Bright Simons: The AI Winter is not coming – yet

Bright Simons: The AI Winter is not coming – yet

The IMF says 40% of jobs are exposed to ArtificiaI Intelligence (AI). CNN translates this as 40% of jobs will be disrupted by AI. Not the same thing. Not even all that close.

When it comes to the other projected impacts, especially regarding inequality, the CNN summary does not deviate too much from the IMF line.

In this quick reaction, however, I only focus on the jobs angle. The whole “AI will kill jobs” debate seems like a loop. It keeps going round in circles. At its alarmist extreme, it gives off bad science fiction vibes .One key point that is […]

AI Expected to Impact 40% of Jobs Globally by Replacing or Complementing Roles – IMF Analysis

AI Expected to Impact 40% of Jobs Globally by Replacing or Complementing Roles – IMF Analysis

AI [artificial intelligence] will affect almost 40 percent of jobs around the world, “replacing some and complementing others.” So that’s why we may “need a careful balance of policies to tap its potential,” according to an update shared by the International Monetary Fund (IMF) .

In a blog post by the IMF, it was noted that we’re “on the brink of a technological revolution that could jumpstart productivity, boost global growth and raise incomes around the world. Yet it could also replace jobs and deepen inequality.”

The IMF update also mentioned that the rapid advance of artificial intelligence has captivated the […]

AI regulation imminent as IMF predicts a 40% global impact on jobs

AI regulation imminent as IMF predicts a 40% global impact on jobs

In light of the significant opportunities that Artificial Intelligence (AI) holds for fostering sustainable growth and development in Africa, government has taken steps to oversee and regulate the technology’s utilisation within the country.

Currently, improved digital connectivity, growing data volumes, advanced algorithms and enhanced computing power are driving technological progress in AI.

Against this background, the Ministry of Communication and Digitalisation – with support from SMART Africa, GIZ FAIR Forward and the Future Society, developed a comprehensive policy document aimed at regulating AI usage in the country. Titled ‘Republic of Ghana National Artificial Intelligence Strategy 2023-2033’, the document is expected to […]

Navigating the Future: The Impact of Automation on the Global Workforce

Navigating the Future: The Impact of Automation on the Global Workforce

As we stand on the brink of a technological revolution that promises to redefine the global job market, the rise of automation and artificial intelligence (AI) technologies is poised to transform not just industries, but our very roles within them. With the advent of these cutting-edge technologies, certain tasks and roles are becoming obsolete, but in their wake, an array of new opportunities are being forged. The Inevitability of Automation and AI

According to a report by the World Economic Forum, by 2025, machines will perform 52% of all tasks, a significant leap from the current 29%. Concurrently, the […]

Artificial intelligence will affect up to 40% of jobs worldwide, IMF warns

Artificial intelligence will affect up to 40% of jobs worldwide, IMF warns

Artificial intelligence will affect up to 40% of jobs worldwide, the International Monetary Fund (IMF) has warned.

This could rise to 60% of roles in advanced economies like the UK – but it is believed that, in half of these cases, AI will benefit the workforce.

In a new report, the IMF warned that AI’s consequences for society remain difficult to foresee, but the technology is likely to exacerbate income and wealth inequality.Developing economies are much less likely to "seize" AI’s advantages, fuelling a digital divide and increasing income disparity between countries.Kristalina Georgieva, the IMF’s managing director, said the world is […]

How the Job Market is Affected by Digital Technology

How the Job Market is Affected by Digital Technology

How the Job Market is Affected by Digital Technology

alonzo mercadel

· Follow 2 min read·5 hours ago The insightful examination of the revolutionary effects of digital technologies on society, the economy, and work may be found in “The Second Machine Age : Work, Progress, and Prosperity in a Time of Brilliant Technologies” by Erik Brynjolfsson and Andrew McAfee. The writers, who are both professors at the MIT Sloan School of Management, examine the far-reaching effects of the current technology revolution and how it might change the course of history.The idea that we are about to enter a […]

AI will have impact on 40% of jobs around the world, warns IMF

AI will have impact on 40% of jobs around the world, warns IMF

A futuristic light sign generated by artificial intelligence The International Monetary Fund (IMF) has warned that artificial intelligence (AI) could impact 40% of jobs worldwide.

The IMF suggests the effect will be more significant in advanced economies, with around 60% of roles affected. About half of these workers will benefit from AI integration, which could boost productivity.

However, the rest might face lower wages, reduced hiring and, "in the most extreme cases, some of these jobs may disappear", according to the IMF. In a new report on AI and machine learning, the IMF said the technology could increase inequality between nations […]