IMF presents "Gen-AI: Artificial Intelligence and the Future of Work"

Our guest speaker Marina Mendes Tavares, economist in the Research Department of the International Monetary Fund (IMF), recently co-authored a report (read) that looks at the consequences and policy implications of the development of artificial intelligence on the labour market.

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. Labour 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 labour reallocation, while safeguarding those adversely affected. Emerging market and developing economies should prioritize developing digital infrastructure and digital skills.

Presentation will last an hour and then we will open the floor for Q&A.