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The IMF evaluated the potential consequences of AI and expressed concerns about its potential to cause social and economic inequality globally.
IMF Chief Kristalina Georgieva has urged policymakers to actively take measures to prevent such circumstances arising from the use of AI.
The Chief acknowledged that new technology could promote development, however, there is a concern that it might lead to a reduction in jobs.
According to IMF, AI has the potential to affect up to 60 percent of jobs in high-income countries.
As per IMF, there is a risk to 26 percent of jobs in low-income countries, and 40 percent in different economies.
The IMF warns that AI may contribute to a rise in income and wealth inequality in many countries.
Goldman Sachs had previously expressed concerns that 30 crore jobs globally could be affected by AI.