Fiscal policy has a “major role to play” in broadening the financial gains from generative AI technology and preventing a spike in wealth inequality, the IMF said Monday.
To mitigate the negative effects of generative AI, governments should consider putting in place new measures to raise additional revenue and support people who lose their jobs, the IMF said. The IMF staff came out against the idea of implementing a special tax on AI products, which some academics have called for, arguing that it could end up hampering productivity growth.
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