IMF Chief Warns Young People Will Bear Brunt of AI-Driven Job Disruption
Kristalina Georgieva, the head of the International Monetary Fund, has issued a stark warning about the impact of artificial intelligence on the global economy. Speaking at the World Economic Forum in Davos, Switzerland, she described the rise of AI as a "tsunami" that will hit the labor market, with young people being particularly vulnerable.
According to Georgieva, 60% of jobs in advanced economies will be affected by AI over the next few years, either by being transformed or eliminated. This is expected to have a disproportionate impact on younger workers, who are often in entry-level positions that are more susceptible to automation. "Tasks that are eliminated are usually what entry-level jobs do at present, so young people searching for jobs find it harder to get to a good placement," she noted.
While some jobs will be enhanced by AI, boosting worker pay and contributing to local economic growth, many others will be lost or transformed, leaving workers without the skills to adapt. Georgieva warned that those whose jobs are not directly affected by AI risk being squeezed out of the market, with their pay potentially falling as productivity increases.
The middle class is also expected to be severely impacted, with Georgieva predicting a significant decline in living standards. Her greatest fear is that AI is not being sufficiently regulated, and that its benefits are not being shared fairly across society.
The warnings come amid growing concerns about the impact of AI on the global economy. Christy Hoffman, general secretary of the UNI global union, called for employers to discuss the role of AI tools with workers and their representatives before introducing them. She argued that while AI is likely to increase productivity and efficiency, it also poses significant risks, including job loss and widening inequality.
Satya Nadella, Microsoft's CEO, echoed these concerns, warning that AI must be designed to generate benefits beyond a few powerful tech firms if it is to have "social permission" to compete for resources. Christine Lagarde, president of the European Central Bank, sounded a note of caution about growing mistrust between rival economies and warned that the AI boom could be hampered by these divisions.
As the World Economic Forum continues, delegates are grappling with the implications of AI on the global economy. While some argue that AI is a necessary driver of productivity and growth, others warn that its benefits must be shared fairly across society to avoid exacerbating existing inequalities.
Kristalina Georgieva, the head of the International Monetary Fund, has issued a stark warning about the impact of artificial intelligence on the global economy. Speaking at the World Economic Forum in Davos, Switzerland, she described the rise of AI as a "tsunami" that will hit the labor market, with young people being particularly vulnerable.
According to Georgieva, 60% of jobs in advanced economies will be affected by AI over the next few years, either by being transformed or eliminated. This is expected to have a disproportionate impact on younger workers, who are often in entry-level positions that are more susceptible to automation. "Tasks that are eliminated are usually what entry-level jobs do at present, so young people searching for jobs find it harder to get to a good placement," she noted.
While some jobs will be enhanced by AI, boosting worker pay and contributing to local economic growth, many others will be lost or transformed, leaving workers without the skills to adapt. Georgieva warned that those whose jobs are not directly affected by AI risk being squeezed out of the market, with their pay potentially falling as productivity increases.
The middle class is also expected to be severely impacted, with Georgieva predicting a significant decline in living standards. Her greatest fear is that AI is not being sufficiently regulated, and that its benefits are not being shared fairly across society.
The warnings come amid growing concerns about the impact of AI on the global economy. Christy Hoffman, general secretary of the UNI global union, called for employers to discuss the role of AI tools with workers and their representatives before introducing them. She argued that while AI is likely to increase productivity and efficiency, it also poses significant risks, including job loss and widening inequality.
Satya Nadella, Microsoft's CEO, echoed these concerns, warning that AI must be designed to generate benefits beyond a few powerful tech firms if it is to have "social permission" to compete for resources. Christine Lagarde, president of the European Central Bank, sounded a note of caution about growing mistrust between rival economies and warned that the AI boom could be hampered by these divisions.
As the World Economic Forum continues, delegates are grappling with the implications of AI on the global economy. While some argue that AI is a necessary driver of productivity and growth, others warn that its benefits must be shared fairly across society to avoid exacerbating existing inequalities.
, can't ignore it no matter what. 60% of jobs are affected? That's crazy! Young people are gonna get hit hard 
, especially those in entry-level positions. We need to start preparing them for the future, not just talking about it. Satya Nadella's point about social permission is super valid 
. We can't have AI benefiting a few big companies and ignoring everyone else. It's time for us all to come together and figure out how to make this work for everyone 
.
. 60% of jobs are gonna get axed by AI and nobody's talking about how this is gonna affect the rest of us? like, what about people who aren't lucky enough to have skills that can be easily transferred or augmented by tech? it's not just young people either, i mean the middle class is already struggling and now we're gonna see a decline in living standards? it's getting old 
. and btw, isn't this what happens when you let corporations get too powerful? they just get to reap all the benefits while the rest of us are left to fight over crumbs? 
. I mean, 60% of jobs being affected by AI is insane 
. What's crazy is that it's not just the jobs themselves, but also the skills required to do them. Like, what if you've spent years learning coding or graphic design, only to have those skills replaced by a robot 
? It's like we're going to be stuck in some kind of never-ending cycle of job-hopping 
.
. We can't just let it run amok and expect everything to work out in the end. I mean, have you seen all those movies about AI taking over the world? It's like we're living in one of those movies 
.
. Like, what even does that mean? Is it just a fancy way of saying "AI needs to be controlled by governments and regulators"? 
.
. It's like they're playing some kind of game with our futures.
. We should be having a serious conversation about how we're going to make sure everyone has access to the benefits of AI, not just the ones at the top 
it's like kristalina georgieva said, 60% of jobs r gonna be affected & it's gonna hit them hard 
entry-level jobs r already super competitive, now add ai to the mix & it's just too much 
. I mean, we're talkin' 60% of jobs gettin' axed or transformed, and young folks are the first to go 
anyone can do 'em, and now AI is like "hey, I'll take that job for you" 
it's all about the gig economy now, no stability or security 
I mean, 60% of jobs are at risk? That's crazy! And it's not like they're being trained to do AI stuff or anything, so what's the point? They'll be lucky if they can get a decent placement with a job that's actually still relevant. And don't even get me started on the middle class - it's gonna tank 
. We need to think about how we're regulating this stuff and making sure everyone benefits, not just the rich tech firms. It's like, what's the plan for all these people who are gonna be left behind? 
. need to have some serious discussion about how we adapt to this new world 
. If we don't get it together, AI could just exacerbate all the existing problems... not cool 
.
60% of jobs in advanced economies are gonna get axed by ai over the next few yrs 
... 60% of jobs gone 
. Need more discussion around how AI benefits are shared, not just those with the right connections 
.