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Title: AI Could Affect 40% of Jobs and Widen Inequality Between Nations, UN
Warns

Link: https://slashdot.org/story/25/04/04/1512247/a...

An anonymous reader shares a report: AI is projected to reach $4.8 trillion
in market value by 2033, but the technology's benefits remain highly
concentrated, according to the U.N. Trade and Development agency. In a report
released on Thursday, UNCTAD said the AI market cap would roughly equate to
the size of Germany's economy, with the technology offering productivity
gains and driving digital transformation. However, the agency also raised
concerns about automation and job displacement, warning that AI could affect
40% of jobs worldwide. On top of that, AI is not inherently inclusive,
meaning the economic gains from the tech remain "highly concentrated," the
report added. "The benefits of AI-driven automation often favour capital over
labour, which could widen inequality and reduce the competitive advantage of
low-cost labour in developing economies," it said. The potential for AI to
cause unemployment and inequality is a long-standing concern, with the IMF
making similar warnings over a year ago. In January, The World Economic Forum
released findings that as many as 41% of employers were planning on
downsizing their staff in areas where AI could replicate them. However, the
UNCTAD report also highlights inequalities between nations, with U.N. data
showing that 40% of global corporate research and development spending in AI
is concentrated among just 100 firms, mainly those in the U.S. and China.

Read more of this story at Slashdot.

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