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Artificial intelligence hitting labour forces like a "tsunami" - IMF Chief

Artificial intelligence hitting labour forces like a "tsunami" - IMF Chief
Artificial intelligence is hitting the global labour market "like a tsunami" International Monetary Fund Managing Director Kristalina Georgieva said on Monday. Artificial intelligence is likely to impact 60% of jobs in advanced economies and 40% of jobs around the world in the next two years, Georgieva told an event in Zurich. "We have very little time to get people ready for it, businesses ready for it," she told the event organised by the Swiss Institute of International Studies, associated to the University of Zurich.

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IMF Chief Kristalina Georgieva warns that artificial intelligence is set to impact the global labor market significantly in the next two years, with 60% of jobs in advanced economies and 40% of jobs worldwide at risk. Speaking at an event in Zurich, Georgieva emphasized the need to prepare people and businesses for the changes AI will bring, highlighting the potential for increased productivity as well as the risk of misinformation and inequality. Despite the challenges, she noted that the world economy has shown resilience in the face of recent shocks, including the COVID-19 pandemic and the war in Ukraine. Meanwhile, Swiss National Bank Chairman Thomas Jordan expressed confidence in Switzerland's fight against inflation, with prices remaining within the target range for the 11th consecutive month. However, both Georgieva and Jordan acknowledged the uncertainty ahead.

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