The launch of ChatGPT by OpenAI in 2022 acted as a catalyst in promoting the narrative that generative AI will eventually replace human jobs. Since then, industry experts and developers have discussed the possibility of this becoming a reality, with many calling for governments around the world to regulate the technology.
Now, Kristalina Georgieva, IMF chief, told AFP that artificial intelligence poses a risk to job security at large, but meanwhile, it also presents a “tremendous opportunity” to empower global growth and even boost productivity across sectors. According to the AFP, Georgieva believes that AI will affect 60% of jobs in advanced economies and about 40% of jobs in developing countries.
IMF, separately, also noted that about half of all jobs will be negatively impacted, while the rest will be bolstered by the productivity boost that AI brings. Moreover, AI is less likely to benefit labor markets in emerging economies.
“Your job may disappear altogether—not good—or artificial intelligence may enhance your job, so you actually will be more productive, and your income level may go up,” Georgieva said. She added, “We must focus on helping low-income countries, in particular, to move faster to be able to catch the opportunities that artificial intelligence will present.”
She believes that artificial intelligence can be a little scary, but meanwhile, it presents a “tremendous opportunity.”
Reskill Yourself To Keep Up With Market Trends
In August of last year, IBM reported that 40 percent of global workers will need to reskill due to artificial intelligence (AI) and automation over the next three years. However, it also stated that jobs will be augmented rather than replaced by AI.
The report further added that entry-level jobs and senior management roles across diverse sectors such as customer service, risk management, and finance will be affected. Therefore, companies and executives must learn to adapt new skill sets, rethink roles, and even focus on the basics of getting work done.
In addition, the implementation of machine-human partnerships, value creation, and technology that enables employees to focus on driving revenue and high-value tasks will also help mitigate the impact of AI.
There are other key areas that are gaining traction due to the rise of AI, such as the role of the AI prompt engineer, which can be lucrative. Skillsets in the fields of data science, robotics, and machine learning can also come in handy. Therefore, it is paramount to identify and continue learning, and ensure that one’s skill set remains up-to-date, in order to avoid being displaced by generative AI.
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