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IMF warns: AI "tsunami" is hitting the global labor market

Kristalina Georgieva, managing director of the International Monetary Fund, said a few days ago that AI is hitting the global labor market like a tsunami.

IMF warns: AI "tsunami" is hitting the global labor market

Georgieva said at an event hosted by the Swiss Institute of International Studies a few days ago that AI could affect 60% of jobs in advanced economies and 40% of global jobs.

"We have little time for people and businesses to prepare," she warned at the meeting. If managed properly, AI can dramatically increase productivity, but it can also spread more misinformation and, of course, exacerbate inequality in society. ”

She explained that in recent years, the world economy has become increasingly vulnerable to shocks, such as the pandemic and the Russia-Ukraine conflict. While more shocks are expected from AI, she said the global economy has remained resilient in the midst of a recession.

Her remarks come as tech giants are racing to launch the latest AI models and roll out new features to get a head start on the market.

IMF warns: AI "tsunami" is hitting the global labor market

Google launched its AI-oriented search engine this week, launching a new "AI Overview" feature in the U.S. market, with plans to roll it out to other countries in the near future.

Sundar Pichai, CEO of Google's parent company Alphabet, said the new features of its product stem from the company's Gemini series of AI models. He also mentioned an upcoming feature from Google Photos called "Ask for Photos," which will allow users to leverage AI to quickly access images or memories in their photo gallery upon request, such as recording the moment a child learns to swim.

IMF warns: AI "tsunami" is hitting the global labor market

ChatGPT developer OpenAI announced on May 13 the launch of its new GPT-4o flagship model, which is capable of lifelike voice conversations with users and has the ability to interact with text and images.

OpenAI showed at the launch event how GPT-4o can read bedtime stories aloud with different voices, moods, and intonations. In another case, the ChatGPT voice assistant uses its visual abilities to solve complex mathematical equations written on paper.

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