Recent advancements in artificial intelligence offer substantial benefits, but there are risks associated with this rapidly evolving technology. The IMF is investigating AI's broader impact on economies and societies by gathering global knowledge through surveillance activities, and by convening key actors to share successful policy responses, foster international consensus and harmonize regulations.
There is a growing consensus that the economics profession must be open to new ideas and frameworks if it hopes to solve the world’s biggest problems
AI will affect almost 40 percent of jobs around the world, replacing some and complementing others. We need a careful balance of policies to tap its potential
Generative AI has introduced tantalizing new possibilities. Yet the initial excitement surrounding AI has given way to genuine and growing concerns. This issue is an early attempt to understand AI’s implications for growth, jobs, inequality, and finance.
Global principles on data policy can help level the playing field while addressing financial stability and inclusion, competition, and privacy.
Sadia Zahidi of the World Economic Forum writes for the IMF's Finance & Development Magazine about their Future of Jobs Report.
New technologies like artificial intelligence, machine learning, robotics, big data, and networks are expected to revolutionize production processes, but they could also have a major impact on developing economies.
The pace at which artificial intelligence is transforming jobs is astounding, but while it boasts higher productivity AI is also increasing wage inequality. When workers are replaced by machines, real wages decline, and the owners of capital prosper. So who owns AI and how should its benefits be distributed? In this podcast, the IMFs Andrew Berg and Maryam Vaziri discuss AI’s inequality problem, the subject of their article in December’s special AI edition of Finance and Development magazine. Berg is Deputy Director, and Vaziri is an economist, both in the IMF Institute for Capacity Development. Transcript
Artificial intelligence and robots are revolutionizing production processes across the globe, but what countries stand to gain most from these new technologies? Economists Andy Berg and Chris Papageorgiou are coauthors of a new study that suggests the so-called AI revolution may widen the gap between rich and poor countries. Transcript
Technological innovation like automation using robots to produce goods and provide services creates tremendous opportunities for businesses. But as the cost of producing robots goes down, is this technology widening the income gap? Economist Arnaud Costinot has been studying technological change and its impact on inequality, and in this podcast, he discusses how a robot tax might help better distribute the benefits of artificial intelligence, or AI technologies. Arnaud Costinot is a Professor of Economics at MIT, and coauthor of Robots, Trade, and Luddism: A Sufficient Statistic Approach to Optimal Technology Regulation. Costinot was invited to present his research at the IMF.
In Japan, deaths outnumber births by 1,000 people per day on average. The population in some regions is now smaller than what it was in the 1950’s. The combination of its rapidly declining labor force—expected to fall even faster than the overall population, and the limited influx of immigrants, creates a powerful incentive for robots and artificial intelligence. In this podcast, IMF economists Todd Schneider and Gee Hee Hong say Japan has no choice but to embrace robots and automation to help the shrinking workforce become more productive. Schneider and Hong coauthored Land of the Rising Robots, an article featured in the June 2018 edition of Finance and Development Magazine.
In this podcast, inventor and futurist Ray Kurzweil talks about how artificial intelligence is helping overcome human limitations and creating better-paying jobs. Kurzweil participated in a panel discussion entitled Technology, Innovation, and Inclusive Growth, during the 2016 IMF World-Bank Annual Meetings.
This Analyze This! video focuses on how AI will impact the job market and the global economy.
How could AI transform jobs, productivity and the world economy?
How could AI transform jobs, productivity and the world economy?
How can AI be harnessed as a transformative tool for sustainable development in Africa?
