AI poses bigger threat to women’s jobs, warns IMF’s Lagarde

IMF chief Christine Lagarde (R) told CNN's Richard Quest that there were 3% more women's jobs vulnerable to AI than men's. (AFP)
Updated 10 February 2019
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AI poses bigger threat to women’s jobs, warns IMF’s Lagarde

  • Lagarde says women earn less and their jobs are more vulnerable to AI
  • She warns that post-Brexit Britain will be worse off

DUBAI: Artificial Intelligence, known as AI, poses a bigger threat to women’s jobs than men’s, International Monetary Fund chief Christine Lagarde said on Sunday at the World Government Summit in Dubai.

“AI and fourth industrial revolution will have a more severe impact on women than men, because many of the tasks that are done by women are more routine tasks that are more easily automated and can be substituted by AI and other tech devices,” she said.

According to Lagarde, 11 per cent of women’s jobs will be affected by AI, opposed to nine per cent of men’s jobs.

She said that even her role would ultimately be impacted by the development of technology.

Lagarde also spoke of the current challenges faced by the world: Trade tensions and tariff escalation, financial tightening, Uncertainty related to Brexit, and finally the  accelerated slowdown of the Chinese economy.

Moderated by CNN’s Richard Quest, the IMF chief spoke of the fact that the UK will “never have it as good as it does now” due to its imminent departure from the European Union after it voted to leave the bloc in summer of 2016.

Apart from these, Lagarde highlighted the importance of trust for economic growth in countries and the detrimental effects corruption has on an economy.

“All corruption erodes trust and trust is at the heart of economic relations, the more corruption you have the slower the growth,” she said.


Paris Air Show: After Boeing showstopper, Airbus seeks order bounce

Updated 19 June 2019
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Paris Air Show: After Boeing showstopper, Airbus seeks order bounce

  • British Airways owner IAG signs letter of intent to buy 200 of its 737 MAX jets
  • Airbus is looking for up to 200 orders for the A321XLR, which is designed to open up new routes

PARIS: Airbus, reeling from the potential loss of a major customer for its best-selling A320neo as British Airways owner IAG placed a lifeline order for the grounded 737 MAX, prepared to hit back with more orders for its A321XLR on Wednesday.
The planemaker has been negotiating with US airlines investor Bill Franke whose Indigo Partners has also been known to place orders for multiple airlines within its portfolio and could reel it in for the Paris Air Show, industry sources said.
Airbus declined to comment.
After weathering intense scrutiny over safety and its public image, Boeing won a vote of confidence on Tuesday as IAG signed a letter of intent to buy 200 of its 737 MAX jets that have been grounded since March after two deadly crashes.
The surprise order lifted the energy of a previously subdued Paris Airshow, where the talk had been of the possible end of the aerospace cycle, given the issues at both Boeing and Airbus as well as geopolitical and trade tensions around the world.
Australia’s Qantas Airways said on Tuesday it would order 10 Airbus new A321XLR jets and convert a further 26 from existing orders already on the Airbus books.
Airbus is also in talks with leasing company GECAS and has been trying to secure an eye-catching order for the A321XLR from American Airlines, though the world’s largest carrier does not typically make announcements at air shows.
Airbus is looking for up to 200 orders for the A321XLR, which is designed to open up new routes.