AI and the Future of Work: Adapting to New Rules

Talks about AI replacing human labour are nothing new. But what do the experts really think?

According to a recent IMF study, nearly 40% of jobs globally are at risk of being affected by AI, with the figure rising to 60% in developed countries. Around half of these roles stand to benefit from AI integration, boosting productivity, while the other half may see reduced demand for labour and, potentially, lower wages.

The IMF warns that in developing economies, the impact of AI may not be as pronounced, but there’s a real risk of widening inequality between nations. Within individual countries, AI could deepen income divides: younger workers, who tend to adapt more quickly to new technologies, are likely to benefit, while older workers may struggle to keep up.

What’s the solution?
Experts highlight that the global "skills crisis" is worsened by the fact that 2.6 billion people still lack internet access, further deepening the digital divide. The key takeaway? "It's not technology that will take jobs—it's people with AI skills." Companies, schools, and governments must take action to train workers for an AI-driven economy.

AI's Impact Today
AI is already making its mark on industries like finance and entertainment. In finance, AI helps streamline processes like risk monitoring and reporting, though human oversight remains essential. Meanwhile, in entertainment, AI is lowering production costs, creating new opportunities for creative projects. Despite this, experts maintain that true creativity will always remain a human domain.

How to Adapt?
To thrive in an AI-powered world, experts say that everyone—from governments to individuals—must actively engage:

• Governments: Should focus on improving digital infrastructure and widening access to AI education.
• Companies: Need to invest in training that combines AI skills with creativity and critical thinking.
• Educational Institutions: Should equip students with AI skills and teach them to collaborate with technology, while also focusing on empathy, communication, and ethical problem-solving.
• Individuals: Must continuously develop both technical and social skills, using AI to enhance their work.

Source: Forbes