UNCTAD Warns AI Could Impact 40% of Global Jobs by 2033

The UN Trade and Development (UNCTAD) has projected that the global Artificial Intelligence (AI) market is set to reach $4.8 trillion by 2033, raising concerns that up to 40% of jobs worldwide could be impacted by AI-driven automation. This shift threatens to undermine the low-cost labor advantage that many developing economies depend on for growth and poverty alleviation.

In its report titled “Ensuring AI Benefits Everyone Is Key to Development in the Global South,” UNCTAD highlighted that 65% of individuals in least developed countries currently lack internet access, limiting their ability to benefit from AI technologies. The report also pointed out that 118 countries, primarily in the global south, are excluded from major AI governance platforms, resulting in the establishment of norms without their input.

While AI has potential benefits, such as aiding rural health workers and forecasting climate-related events, the distribution of AI's advantages is uneven, with a small number of economies and firms controlling most of the research and resources.