The International Monetary Fund (IMF) stated on Monday that social protection tax measures play a "key role" in balancing the risks posed by artificial intelligence, particularly the increase in inequality. The memo noted that "tax policy has a major role in supporting a fairer distribution of the gains and opportunities associated with generative AI." The Fund added, "But this requires significant changes in tax and social protection systems worldwide."
The IMF specifically calls for increasing unemployment insurance benefits and investing in training to prepare workers "for jobs in the age of artificial intelligence." The Fund opposes implementing a specific tax on artificial intelligence, as proposed by researchers, arguing that it could impact productivity growth. Instead, it suggests addressing tax loopholes that encourage job elimination. The IMF also supports raising taxes on capital income "to balance the growing wealth gap."
