Two recently published reports point to the transformative power of emerging technologies such as Artificial intelligence and Blockchain – but also highlight why education is necessary.
The International Monetary Fund has published a new discussion note focusing on Artificial Intelligence (AI) and the future of work. The report found that AI has the potential to reshape the global economy, especially in the realm of labour markets. Notably, advanced economies will experience the benefits and pitfalls of AI sooner than emerging markets and developing economies, largely due to their employment structure focused on cognitive-intensive roles.
While the transformative impact of blockchain is exciting, the discussion note also flags that there are growing concerns about some consistent patterns concerning AI exposure, with women and college-educated individuals more exposed but also better poised to reap AI benefits, and older workers potentially less able to adapt to the new technology.
The researchers found that labour income inequality may increase if the complementarity between AI and high-income workers is strong, while capital returns will increase wealth inequality. However, if productivity gains are sufficiently large, income levels could surge for most workers.
‘In this evolving landscape, advanced economies and more developed emerging markets need to focus on upgrading regulatory frameworks and supporting labour reallocation, while safeguarding those adversely affected. Emerging markets and developing economies should prioritise developing digital infrastructure and digital skills,’ the IMF said.
IMF discussion note aligns with BSV Blockchain Barometer
The IMF’s findings align with BSV Blockchain’s inaugural Blockchain Barometer published at the end of 2023, The Barometer showed the public’s perceptions and comprehension of emerging technologies, such as blockchain, AI, the metaverse, ChatGPT and the Internet of Things (IoT).
The survey, which was conducted in partnership with YouGov and included 13,000 consumers across the UK, Spain, Germany, France, Sweden, and the US, uncovered shocking gaps in tech trust and awareness, highlighting the dire need for better education and transparency.
‘As stewards of the BSV protocol and as a membership organisation, we wanted to get a sense check on the broader sentiment towards new technology globally. This survey was commissioned to assess whether consumers have any disparities in understanding, knowledge, and trust in emerging tech, including blockchain,’ said Cyrille Albrecht, Managing Director of the BSV Association.
‘One of the BSV Association’s key pillars is to provide the necessary education on blockchain technology to augment broadscale adoption, and the research results highlight the need to continue our commitment to fostering learning and training,’ he said.
Learn more through the BSV Academy
The BSV Academy is one such initiative aimed at tackling the knowledge gap. Committed to delivering thorough blockchain education, this platform strives to furnish individuals with the necessary skills to navigate the swiftly evolving technological landscape.
Through a diverse range of courses tailored to different skill levels and interests, the Academy not only facilitates an understanding of the theoretical aspects but also emphasises the practical applications of blockchain technology.
The primary objectives of the BSV Academy encompass expanding knowledge reservoirs, cultivating a cadre of proficient individuals well-versed in BSV blockchain technology, and offering inclusive training programs. While predominantly accessible online, featuring a total of 18 courses across four streams, the Academy’s representatives also actively promote adoption of the BSV blockchain at various events and contribute to local training initiatives.
