The introduction of AI to workforces has no doubt provided various benefits in terms of work efficiency and eliminating lengthy tasks. The introduction of AI bots such as ChatGPT has proved how it can aid work practices and creativity in certain sectors. 

As well as the benefits AI brings, leaders and experts around the globe have continued to highlight the potential negative effects it could have on professionals and their jobs. 

IMF: Jobs exposed to AI will be negatively impacted

Research by the IMF has suggested that approximately 60% of jobs in advanced economies such as the US and UK are exposed to AI and half of these jobs may be negatively affected. However, AI will help enhance humans’ productivity as the tech will improve their performance. 

Analysis by the IMF also suggests the most secure positions in sectors highly affected by AI are those characterised by "high complementarity," where technology enhances rather than replaces humans completely. This highlights professions that require significant responsibility and interpersonal interaction, such as surgeons, lawyers, and judges.

On the flip side, jobs highly exposed to AI with "low complementarity," indicating a higher likelihood of AI replacement, include roles like telemarketing, involving cold-calling to offer products or services. On the other hand, low-exposure occupations, as noted by the IMF, comprise positions such as dishwashers and performers.

The Managing Director of the International Monetary Fund, Kristalina Georgieva has shared her views on how AI could ‘lower labour demand’ leading to job loss. 

“Roughly half the exposed jobs may benefit from AI integration, enhancing productivity. For the other half, AI applications may execute key tasks currently performed by humans, which could lower labour demand, leading to lower wages and reduced hiring. In the most extreme cases, some of these jobs may disappear.” 

In addition, Georgieva also provided her thoughts on how AI could build the inequality gap across the globe: “It is crucial for countries to establish comprehensive social safety nets and offer retraining programmes for vulnerable workers,” Georgieva said. “In doing so, we can make the AI transition more inclusive, protecting livelihoods and curbing inequality.” 

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