The International Monetary Fund has a 4,000-word study on artificial intelligence and the future of work.
IMF’s one major conclusion: the poor and uneducated will lose jobs and be displaced. Up to 26 percent of work force will be affected in low-income countries and 40 percent in middle income economies like the Philippines.Here is part of the IMF report:
In advanced economies, about 60 percent of jobs are exposed to AI, due to prevalence of cognitive-task-oriented jobs. The effect on labor income inequality depends largely on the extent to which AI displaces or complements high-income workers. College-educated workers are better prepared to move from jobs at risk of displacement to high-complementarity jobs; older workers may be more vulnerable to the AI-driven transformation.
Artificial intelligence promises to boost productivity and growth, but its impact on economies and societies is uncertain, varying by job roles and sectors, with the potential to amplify disparities. Generative AI includes systems such as sophisticated large language models that can create new content, ranging from text to images, by learning from extensive training data.
This uncertainty becomes especially pronounced in labor markets. Although AI holds the potential for production-oriented applications, its effect will likely be mixed.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Suarez to propose supplemental budget for P13b 4Ps fundDefining the News
Read more »
Norway wealth fund’s ethics watchdog to probe companies over GazaOver the years, the world's largest sovereign wealth fund operates has divested from nine companies, all Israeli, over activities in the occupied Palestinian territories.
Read more »
Philippines' sovereign wealth fund aims to draw capital financing from overseasThe Philippines' sovereign wealth Maharlika Investment Fund is meant to draw capital financing from overseas to boost economic growth, President Ferdinand "Bongbong" Marcos Jr. said on Tuesday.
Read more »
CHED chief faces complaint before Ombudsman for ‘unaccounted’ P10.3-B higher education fundA COMPLAINT was filed before the Office of the Ombudsman against Commission on Higher Education (CHED) Chairman Prospero “Popoy” De Vera in connection with the alleged unaccounted P10.
Read more »
DSWD welcomes fund increase for 4Ps beneficiariesDefining the News
Read more »
Upson International FY23 profit: P464-M (down 13.7%)Upson International, the IT retailer primarily operating through the Octagon retail brand, teased its FY23 financial results headlined by a 13.7% dip in net income to P464 million.
Read more »