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Gen-AI: Artificial Intelligence and the Future of Work
Author:
Mauro Cazzaniga
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,
Florence Jaumotte https://isni.org/isni/0000000404811396 International Monetary Fund

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Longji Li
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Giovanni Melina
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Augustus J Panton
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Carlo Pizzinelli https://isni.org/isni/0000000404811396 International Monetary Fund

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Emma J Rockall
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Marina Mendes Tavares
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Series:
Staff Discussion Notes
Volume/Issue:
Volume 2024: Issue 001
Language:
English
Publication Date:
14 Jan 2024
DOI:
https://doi.org/10.5089/9798400262548.006
ISBN:
9798400262548
ISSN:
2617-6750
Pages:
41
Keywords:
Artificial Intelligence; Labor Market; Job Displacement; Income Inequality; Advanced Economies; Emerging Market Economies; Low-Income Developing Countries; AI preparedness index; AI benefit; AI exposure; ICT employment share; AI adoption; Emerging and frontier financial markets; Income; Global; Africa
Legal-disclaimer:
Staff Discussion Notes (SDNs) showcase policy-related analysis and research being developed by IMF staff members and are published to elicit comments and to encourage debate.The views expressed in this Policy Discussion Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.
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Artificial Intelligence (AI) has the potential to reshape the global economy, especially in the realm of labor markets. Advanced economies will experience the benefits and pitfalls of AI sooner than emerging market and developing economies, largely due to their employment structure focused on cognitive-intensive roles. There are some consistent patterns concerning AI exposure, with women and college-educated individuals more exposed but also better poised to reap AI benefits, and older workers potentially less able to adapt to the new technology. Labor income inequality may increase if the complementarity between AI and high-income workers is strong, while capital returns will increase wealth inequality. However, if productivity gains are sufficiently large, income levels could surge for most workers. In this evolving landscape, advanced economies and more developed emerging markets need to focus on upgrading regulatory frameworks and supporting labor reallocation, while safeguarding those adversely affected. Emerging market and developing economies should prioritize developing digital infrastructure and digital skills
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Cover Staff Discussion Notes
Staff Discussion Notes
ISSN:
2617-6750
Publisher:
International Monetary Fund