Artificial intelligence is all the buzz lately. Artificial intelligence chatbots like ChatGPT Maybe Synthesize scientific articles for you, debug your faulty codeAnd write Microsoft Excel formulas at your command. But have you seen how many jobs AI can replace? Goldman Sachs thinks about 300 million.
According to the investment bank, around 300 million jobs could be lost to AI, signaling that the technology can and will improve efficiency as we know it. Like previous technological revolutions, AI can help companies reduce costs by automating specific processes, giving companies the freedom to grow their businesses.
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A global economy research report from Goldman Sachs says that AI can automate 25% of the entire labor market but can automate 46% of tasks in administrative jobs, 44% of legal jobs, and 37% of architectural and engineering occupations. art. Of course, AI poses the least threat to labor-intensive occupations such as construction (6%), installation and repair (4%) and maintenance (1%).
The study also concluded that 18% of the global workforce could be automated using AI. And in countries like the US, UK, Japan, and Hong Kong, up to 28% of the country’s workforce could be automated using AI.
However, research shows the potential for a balanced and mutually beneficial relationship between workers and AI. Research says that jobs that are partially exposed to automation use leisure time to increase productivity at work.
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But if you’re worried about your jobs being taken over by AI, Goldman Sachs predicts that displaced workers will be rehired in jobs that emerge as a direct result of AI adoption. widely. Displaced workers may also see a higher level of labor demand as non-substituted workers become more productive.
Think about how IT innovations have created demand for software developers and along with increased incomes, directly increased demand for education, this creates a need for educational professionals. university education. It’s a domino effect, but an alarming one nonetheless.
AI’s potential to replace 300 million jobs is a top concern of workers as well as tech moguls. Notable names in the industry, such as Steve Wozniak, Rachel Bronson and Elon Musk, co-signed an open letter to halt AI trials. The letter stems from a fear that the development of AI is happening too fast for humans and could topple our society as we know it.
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At the beginning of May, the technology giant IBM announced that it has plans to Replace nearly 8,000 jobs with AI, with HR professionals being the first to go. Many companies in the tech sector have changed corporate goals and cut jobs as they all vie to win the AI race.
Amazon and Meta laid off thousands of employees, Pause special projectsAnd discontinued product lines to pave the way for innovation with AI technology. And the goal is not to recreate ChatGPT. These companies are harnessing generalized AI to transform advertisement And shopping experience and let go of employees in the process.
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In March, the American Chamber of Commerce calls for strict regulation of AI at the federal level to ensure jobs, national security and the economy. Innovative AI is arguably the most game-changing technology humans have created in a long time. And even though Impressive chatbot that lacks real intelligenceTechnology is reshaping our world every day.
