Artificial intelligence technology will affect about 60 percent of all jobs worldwide, according to a new analysis by the International Monetary Fund.

IMF chief Kristalina Georgieva said that "AI will worsen overall inequality".

Countries need to address the issue to "prevent technology from exacerbating social tensions," Georgieva said.

The study examined the benefits and risks of the spread of artificial intelligence.

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The IMF said AI will affect a large share of jobs in advanced economies - about 60 percent.

SOME JOBS WILL DISAPPEAR

In half of these examples, workers can use AI to increase their productivity.

But in other cases, it has been suggested that AI will have the ability to perform basic tasks currently carried out by humans. This could reduce demand for labor, affecting wages and even eliminating jobs.

The IMF estimates that AI technology will only affect 26 percent of jobs in low-income countries.

Georgieva said that "many of these countries do not have the infrastructure or skilled labor to take advantage of AI, which means that over time the technology could worsen inequality between countries."

The analysis said that high-income and young workers who embrace AI could see a disproportionate increase in their wages.

But lower-income and older workers could be left behind, according to the IMF.

WHAT CAN BE DONE?

"It is crucial that countries build comprehensive social safety nets and offer retraining programs for vulnerable workers," Georgieva said.

One of the world's biggest banks has announced thousands of layoffs! One of the world's biggest banks has announced thousands of layoffs!

"By doing so, we can make the AI transition more inclusive, protect livelihoods and reduce inequality."

The IMF's analysis was released in conjunction with the World Economic Forum in Davos, Switzerland.

Last month, European Union officials reached a tentative agreement on the world's first comprehensive laws to regulate the use of artificial intelligence.

The European Parliament will vote on AI legislation earlier this year, but any legislation will not come into force until at least 2025.

BBC