AI<\/a> amounted to a “slow-moving tsunami” that would have profound consequences for jobs, growth, education and even how governments generate revenue through taxation, given the expected shift from labor to capital. <\/p>\nThe IMF estimates that AI could lead to 40% of jobs being augmented, downgraded or eliminated, over \u200btime, she \u200bsaid. An initial study showed that 10% of jobs in the US already \u200brequired AI skills. While routine, repetitive jobs were shrinking, \u200clow-paying jobs were increasing in two lower-paying sectors, construction and data centers. <\/p>\n
“It is a transformative technology. It so completely changes how we work, how we live,” she said, noting that an AI assistant now gave her a 30-second message about her schedule each day. <\/p>\n
The US, China and India are the most important producers in the AI supply chain, but many of the firms building the needed infrastructure are in Asia, Georgieva said, referencing Thailand, host of this year’s annual meetings. <\/p>\n
AI IMPACT ON ENTRY-LEVEL JOBS <\/p>\n
World Bank President Ajay Banga, who has made jobs a central focus of \u200chis presidency, said the development bank was focused on leveraging “small AI”, which is \u200bnot dependent on large language models, to generate enormous productivity gains for farmers, healthcare systems, \u200beducators and others in emerging markets. <\/p>\n
Singapore’s President Tharman Shanmugaratnam, speaking \u200bat the same event, said governments should address how AI was reducing job opportunities for graduates. <\/p>\n
“There is a particular \u200cproblem that we have to address very soon … and that \u200bis that, the first rung in \u200bemployment, your first job upon graduation, is now seeing less demand,” he said. <\/p>\n
He said the world should also guard against AI resulting in a “new divergence” in growth and job creation between developing and advanced economies. <\/p>\n
“AI is going to widen the divergence if we \u200bare too passive about it,” he said. “So we’ve \u200cgot to do everything we can to first use AI to create good jobs and to create jobs that can \u200bbe done well by human beings, can allow them to ride up a career ladder despite AI.” <\/p>\n
(Reporting by Andrea Shalal, \u200bDavid Lawder and Rae Wee; Editing by Clarence Fernandez and John Mair) <\/p>\n","protected":false},"excerpt":{"rendered":"By Andrea Shalal and Rae Wee BANGKOK, Oct 12 (Reuters) – Strong investment in AI infrastructure is keeping…\n","protected":false},"author":2,"featured_media":643968,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[6638,345,343,344,114,357,184,268,13368,85,4141,13516,9445,46,2450,8553,9331,266,13517,4861,688,5615,13369,13370,5268,13518,270,125,13519],"class_list":["post-643967","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-401k","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-business","tag-business-news","tag-economy","tag-finance","tag-financial-information","tag-il","tag-investing","tag-investment-tools","tag-investor","tag-israel","tag-market-news","tag-mortgage","tag-mutual-funds","tag-personal-finance","tag-quote","tag-real-estate","tag-retirement","tag-stock","tag-stock-research","tag-stock-valuation","tag-stocks","tag-suze-orman","tag-tax","tag-technology","tag-track-portfolio"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/643967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=643967"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/643967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/643968"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=643967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=643967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=643967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}