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The global economy stands on the brink of an unprecedented transformation that artificial intelligence (AI) will drive over the next decade. Goldman Sachs estimates that two-thirds of jobs in Europe and the United States are exposed to some level of AI automation, while McKinsey research suggests AI will generate more than US$17 trillion in annual productivity gains. But policymakers are missing an important insight: the distribution of gains depends entirely on the implementation of AI in the workplace.
Analysis from the International Monetary Fund has shown that the stakes are significant. Roughly half of AI-exposed jobs will benefit from integration that enhances productivity. The other half face wage cuts and reduced hiring as AI replaces people in the workforce. The difference isn't technical – it's governance. Countries that get workplace AI governance right will capture economic gains while maintaining socioeconomic stability. Those that don't risk the erosion of both public trust in AI and the competitive economic advantage AI provides.
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Australia’s $17 trillion AI moment | Lowy Institute
In a world where you can be fired by a bot, countries that get workplace AI governance right will reap economic gains.www.lowyinstitute.org
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