AI Set to Impact 40% of Jobs, Worsen Inequality, Say Reports

A quarter of global CEOs anticipate workforce reduction due to AI, with generative AI predicted to enhance profitability for 46% of businesses within a year.

According to a new analysis by the International Monetary Fund (IMF), artificial intelligence (AI) is set to affect nearly 40% of all jobs, potentially worsening overall inequality.
A recent survey by PwC revealed that 25% of global CEOs anticipate at least a 5% reduction in workforce due to AI deployment, particularly in the media, entertainment, banking, insurance, and logistics sectors.
Generative AI, capable of rapidly producing human-like text, images, and code, is predicted to enhance profitability for 46% of businesses within a year.
AI is likely to affect a greater proportion of jobs in advanced economies, potentially lowering demand for labour, affecting wages and even eradicating jobs.
AI is facing increased regulation around the world, with the European Union and China introducing comprehensive laws to regulate its use and the US requiring developers to share safety results.