Tax measures for social protection have a "major role to play" in offsetting the risks posed by artificial intelligence, particularly the rise in inequalities, the International Monetary Fund (IMF) stated in a memo yesterday.

Without regulatory measures, generative AI, popularized by tools like ChatGPT, could lead to job losses in skilled professions, the IMF warns.

To address this, governments should consider new methods to fund a social safety net for those who lose their jobs, the report's authors recommend.

"Fiscal policy has a crucial role in supporting a fairer distribution of the gains and opportunities associated with generative AI," the memo emphasizes. "However, this requires significant changes to tax systems and social protection worldwide," it adds.

The IMF particularly calls for increasing unemployment benefits and investing in training to prepare workers "for jobs in the AI era."

However, the IMF opposes the imposition of a special AI tax, which researchers have suggested, arguing it could negatively impact growth and productivity. Instead, the IMF suggests actively addressing gaps in tax systems that encourage job cuts.

The IMF also supports increasing taxes on capital income to "counteract the rise in wealth inequalities."