The 12th IMF Statistical Forum commenced with discussions on the economic implications of artificial intelligence (AI). The event, organized by Bert and the Statistics Department, focused on "Measuring the Implications of AI on the Economy."
In recent years, generative AI has become widely accessible, sparking excitement about its potential to revolutionize industries. However, concerns remain about its possible negative impacts. AI offers significant opportunities for growth and efficiency, as evidenced by productivity gains in call centers. Yet, it also poses risks such as labor market disruptions and increased inequality.
The forum emphasized the need for coordinated actions among governments, private sectors, and civil society to harness AI for inclusive economic growth. Central to these efforts is reliable data collection. Participants are set to explore methods to measure AI's impact across various sectors and enhance statistical systems.
Questions were raised regarding existing international standards for data collection in an era dominated by AI. Additionally, discussions included leveraging AI technologies like GenAI and StatGPT to improve statistical processes.
The IMF Statistics Department has established a Big Data Center aimed at advancing statistical innovation. The department encourages sharing analytical tools globally to aid policymakers in crafting effective policies.
The forum highlights the transformative potential of AI in shaping economic landscapes if measured and utilized effectively.