IMF releases artificial intelligence preparedness index for 174 countries

IMF releases artificial intelligence preparedness index for 174 countries

While AI can increase productivity, boost economic growth and raise incomes, it could also wipe out millions of jobs, widen inequality, says financial agency

By Ovunc Kutlu

ISTANBUL (AA) - The International Monetary Fund (IMF) on Tuesday released its AI Preparedness Index (AIPI), mapping the world's readiness for artificial intelligence (AI) and evaluating the level of AI preparedness for 174 countries.

The AIPI Dashboard tracks 174 economies based on their digital infrastructure, human capital, labor policies, innovation, integration and regulation, the financial agency said in a statement.

While AI can increase productivity, boost economic growth and raise incomes, it could also wipe out millions of jobs and widen inequality, it added.

The IMF's research in January showed that AI could endanger 33% of jobs in advanced economies, 24% in emerging economies, and 18% in low-income countries.

"But, on the brighter side, it also brings enormous potential to enhance the productivity of existing jobs for which AI can be a complementary tool and to create new jobs and even new industries," said the statement.

The financial agency said wealthier economies tend to be better equipped for AI adoption compared to low-income countries.

"Most emerging market economies and low-income countries have smaller shares of high-skilled jobs than advanced economies, and so will likely be less affected and face fewer immediate disruptions from AI," it said.

"At the same time, many of these countries lack the infrastructure or skilled workforces needed to harness AI’s benefits, which could worsen inequality among nations," it added.

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