A recent Golden Sachs report estimates that generative AI tools like ChatGPT and Midjourney could impact 300 million jobs around the world. In large economies, investment banking strategists estimate that one-fifth of the workforce could be laid off.
The concept of generative AI refers to systems that have the ability to generate content, perform tasks and interact with humans in ways that replicate creativity. The authors of the report, Joseph Briggs and Devesh Kodnani, claim that the tools have the potential for “extraordinary macroeconomic effects”, by automating tasks and increasing productivity.
In the United States and the European Union, the study reveals that about a quarter of workers will be at risk, while two thirds will have their functions exposed to these tools. The authors also assess that administrative employees and lawyers are the ones most at risk of being dismissed.
It is worth noting, however, that a calculation carried out by the survey points out that partial automation of work should reach 63% of jobs in the US – in which less than half of the activities would be replaced by AI. In just 7% of cases, most tasks performed by humans could be replicated by machines.
Growth in the global economy
According to Golden Sachs researchers, it is predicted that the rise of generative artificial intelligence could increase the global gross domestic product by 7% over the next decade.
Source: Business Season
