PAOLO CONFINO
Artificial intelligence will hit the labor market like a “tsunami,” according to International Monetary Fund managing director Kristalina Georgieva.
Since the onset of AI, experts have debated its pros and cons for the workforce. Essentially, could a tool capable of supercharging productivity by automating scores of routine tasks put millions of people out of a job? Or will technological change find a way, as it usually does, of creating new roles to replace the ones it’s rendering obsolete? Add Georgieva to the concerned camp.
“It could bring tremendous increase in productivity if we manage it well, but it can also lead to more misinformation and, of course, more inequality in our society,” Georgieva said during an event in Zurich.
In the same speech, Georgieva addressed other problems the global economy had faced, but had nonetheless weathered. “Last year there were fears that most economies would slip into recession, that didn’t happen,” Georgieva said. “Inflation that has hit us with a very strong force is on the decline, almost everywhere.” In other words, the economy could be somewhat tsunami-proof, but still, it’s coming.
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