IMF Chief Economist Gita Gopinath Warns of Potential Job Market Disruptions from AI
According to the Financial Times, Gita Gopinath, the First Deputy Managing Director of the IMF, has cautioned about the significant disturbances that could arise in labour markets due to generative artificial intelligence. She has urged policymakers to promptly establish regulations to manage this technology.
“We need governments, we need institutions, we need decision-makers to act quickly on all fronts, in terms of regulation, but also in preparing for possible major disruptions in the labor market,” Gopinath said in an interview with the Financial Times.
It also urged governments to strengthen “social safety nets” for workers affected by AI deployment, while working on tax policies that do not reward companies that replace workers with machines.
Gopinath warned policymakers to be cautious if some companies have an undisputed position in the new technology.
“You don’t want big companies with huge amounts of data and computing power to have an unfair advantage,” Gopinath told the paper.
