Balance effects of AI with profits tax and green levy, says IMF

Governments should use fiscal policies to atone for technology-related carbon emissions, urges report

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Governments faced with economic upheaval caused by artificial intelligence should consider fiscal policies including taxes on excess profits and a green levy to atone for AI-related carbon emissions, according to the International Monetary Fund.

The IMF said unlike previous technological breakthroughs such as the steam engine, generative AI – the term for computer systems such as ChatGPT that can produce convincing, human-like text, voices and images from simple hand-typed prompts – can spread “much faster” and advances in the technology are happening at “breakneck speed”.

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​Governments should use fiscal policies to atone for technology-related carbon emissions, urges reportBusiness live – latest updatesGovernments faced with economic upheaval caused by artificial intelligence should consider fiscal policies including taxes on excess profits and a green levy to atone for AI-related carbon emissions, according to the International Monetary Fund.The IMF said unlike previous technological breakthroughs such as the steam engine, generative AI – the term for computer systems such as ChatGPT that can produce convincing, human-like text, voices and images from simple hand-typed prompts – can spread “much faster” and advances in the technology are happening at “breakneck speed”. Continue reading… 


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