Leveraging AI 57 | The wave of AI-driven layoffs has begun. Everything you need to know to prepare your career and your business - Jan 27, 2024
Jan 27, 2024
AI expert, Isar Meitis, discusses the alarming report by the IMF revealing that 60% of jobs in advanced economies will be impacted by AI. He highlights the increasing number of companies replacing staff with AI and the lack of training provided to workers. Meitis emphasizes the growing impact of AI on job layoffs, particularly in the tech sector, and advises employees to learn AI skills for job security. He also provides insights on how businesses can adapt to the changing job market by focusing on tasks, hiring individuals with AI skills, and avoiding layoffs.
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AI's Uneven Impact
- 60% of jobs in advanced economies will be impacted by AI, according to the IMF.
- Conversely, developing economies face less impact, with only a 29% projection for low-income countries.
AI-Driven Replacement
- 37% of business leaders surveyed by the OECD already replaced workers with AI in 2023.
- Another 44% plan to do so in 2024, indicating a rapid shift in workforce dynamics.
Economic Growth and Job Losses
- PWC predicts AI will add $15.7 trillion to the global economy by 2030.
- However, 25% of CEOs surveyed plan to lay off at least 5% of their workforce due to AI.