Expert names five economic sectors not threatened by AI according to World Bank
MOSCOW, May 5. /TASS/. The World Bank has identified five economic sectors that should survive the AI takeover: infrastructure development, smallholder agriculture, primary healthcare, tourism, and value-added manufacturing, Sergey Rybakov, program director of the Vostok discussion club, told TASS.
"At the April global financial negotiations, which focused on geopolitical risks and market stabilization, World Bank President Ajay Banga identified the main threat of the decade: a shortfall of 800 million jobs. In the next 10-15 years, 1.2 billion people in developing countries will reach working age, while their economies are capable of creating only about 400 million jobs," Rybakov noted.
According to the expert, the introduction of artificial intelligence (AI) will intensify existing imbalances in the labor market and reduce effective demand, as highly skilled and highly paid workers will become expendable.
"AI aggravates existing imbalances in the labor market, including through automation and cost pressures. It minimizes expenses by replacing highly skilled and highly paid workers. This reduces effective demand, which requires even greater cost reductions, and therefore even greater investment in improving AI. Breaking this cycle without a conscious policy is impossible. A reasonable balance is needed. It is important to consider all the possible consequences of the use of new innovative technological solutions," Rybakov concluded.
