https://live.ilo.org/events/gen-ai-artificial-intelligence-and-future-work-2024-07-02

This session will discuss the recent study the IMF titled Gen-AI: Artificial Intelligence and the Future of Work. The paper suggests that advanced economies should 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. It also observes 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.

The authors suggest that labor income inequality may increase if the complementarity between AI and high-income workers is strong, while capital returns might increase wealth inequality. However, they also observe that if productivity gains are sufficiently large, income levels could surge for most workers. They propose that advanced economies and more developed emerging markets should focus on upgrading regulatory frameworks and supporting labor reallocation, while safeguarding those adversely affected. On the other hand, they suggest that emerging market and developing economies should prioritize developing digital infrastructure and digital skills.

The session will consist of the presentation of the paper and a follow up discussion, including questions from the audience.
Authors: Mauro Cazzaniga, Florence Jaumotte, Longji Li, Giovanni Melina, Augustus J. Panton, Carlo Pizzinelli, Emma Rockall, and Marina M. Tavares