Did you know AI’s Shadow Looms Larger as UN Urges Immediate Global Response

 

The United Nations is making some startling predictions for the global AI market.

According to stats, it predicts the AI market will reach up to $4.8 trillion, which is equivalent to the size of the German economy. But that’s not all. It’s also predicted to replace nearly every 2 in 5 of different jobs around the globe.

Remember, AI is already transforming the economy and giving rise to huge opportunities to flourish. Now that is coming at the cost of greater inequalities across the board. To be more specific, the report shared how AI might affect 40% of all global jobs. We’re talking about a rise in inequality and uncertainty across various sectors.

Yes, AI does enhance productivity, but automation would spread, and that gives rise to more people getting displaced from their positions. Previously, we saw so many waves of tech affecting blue-collar jobs. But now, it might be more widespread with knowledge-based sectors getting exposed the most.

In essence, it raises concerns about those economies that are the most developed, as they would be impacted more. These countries, at the same time, are more equipped to take on the benefits that AI brings to them and their economies.

This is why there is a mega urge for international corporations to move the focus from tech to people, so nations can co-create a global AI framework to benefit from more.

This is why the global agency wants nations to act now and control the issue before it’s too late. Common solutions to the problems include investing more in digital infrastructure, creating more opportunities, and also by ensuring stronger AI governance.

The world should invest in reskilling, upskilling, and also making sure AI improves employment chances instead of getting rid of them. As a whole, the UN expressed the need for nations to engage in discussions related to AI governance. After all, the goal needs to be related to AI serving global progress, and not just benefiting a few sectors or nations.