Generative artificial intelligence (AI) could hit 300 million jobs, according to a new research from Goldman Sachs.
The American investment company’s chief economist, Jan Hatzius, has reportedly said that generative AI, despite its uncertain potential, has shown amazing progress in creating content similar to human-generated output and improving human-machine communication. He highlights the potential for significant impacts on the labor force.
Its new research says generative artificial intelligence systems could lead to significant disruption in the labor market and affect around 300 million full-time jobs internationally.
At the same, the research says, automation has also tended to create new jobs, and that new occupations that have been brought about from innovative technology have accounted for the most growth in employment.
Generative artificial intelligence has the potential to affect the labor force in several ways.
On the one hand, AI can be used to automate tasks that were previously performed by human workers, which can lead to job displacement and a decrease in demand for certain types of labor. For example, AI-powered machines can be used to replace human workers in manufacturing, assembly line, or even customer service jobs.
On the other hand, AI can also create new job opportunities in fields such as data analysis, machine learning, and software engineering. These jobs require new skill sets that are often related to the development, deployment, and maintenance of AI systems. Overall, the impact of AI on the labor force will depend on the specific applications and implementations of the technology. However, it is clear that AI has the potential to both displace workers and create new job opportunities and that this impact will likely be significant in the coming years.
