Impact of AI on Singapore's Labor Market: Singapore

August 13, 2024

Preview Citation

Format: Chicago

Shujaat A Khan. Impact of AI on Singapore's Labor Market: Singapore, (USA: International Monetary Fund, 2024) accessed November 21, 2024

Summary

Singapore is well-prepared for AI adoption but stands highly exposed to the increasing use of artificial intelligence (AI) technologies in the workplace, due to a large share of skilled workforce. While half of the highly exposed segment of the labor force stands to benefit from the appropriate use of AI to complement their tasks, potentially boosting their productivity, the other half may face greater vulnerability to AI’s disruptive effects due to lower levels of AI complementarity. Estimates suggest that women and younger workers are more exposed to the effects of AI, which, in the absence of appropriate policies, could worsen income inequality in Singapore. Targeted training policies, leveraging on the existing SkillsFuture program, can harness AI's potential. Additionally, focused upskilling can mitigate the disruptive impact of AI on vulnerable workers.

Subject: Artificial intelligence, Labor, Labor force, Labor markets, Technology

Keywords: AI adoption, AI complementarity, AI exposure, Artificial intelligence, Disruptive effect, Global, Impact of AI, Labor force, Labor markets

Publication Details

Pages:

14
Volume:

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DOI:

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Issue:

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Series:

Selected Issues Paper No. 2024/040
Stock No:

SIPEA2024040
ISBN:

9798400285721
ISSN:

2958-7875

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