IMF: Higher social security will extend benefits of AI

The International Monetary Fund (IMF) has said that fiscal policy has an "important role" in expanding the financial benefits of Artificial Intelligence (AI) technologies, AFP reported.
"Unchecked, generative AI threatens to exacerbate job losses in white-collar occupations," the IMF said.
The technology is at the heart of chatbots including Microsoft's Copilot, Google's Gemini and OpenAI's ChatGPT.
"To mitigate the negative effects of generative AI, governments should consider introducing new measures to raise additional revenue and support people who lose their jobs," the IMF believes.
"Fiscal policy must play an important role in supporting a more even distribution of the benefits and opportunities of generative AI," the international financial organization said.
"But this will require significant improvements in social protection systems and tax systems around the world," the IMF added.
IMF officials have spoken out against the idea of ​​introducing a special tax on AI products, which some academics have called for, arguing that it could be a drag on productivity growth. | BGNES