Artificial Intelligence Could Replace The Equivalent Of 300 Million Jobs: Report
Artificial intelligence tools are developing at a very quick rate, instilling fears of industry-wide takeovers by many AI technologies. While most AI tech isn't smart enough to operate on its own and is largely centred around language models like ChatGPT, a new report claims that artificial intelligence could end up replacing the equivalent of 300 million jobs.
AI takes, AI gives!
According to investment bank Goldman Sachs, AI could replace a quarter of work tasks but this could also mean new jobs and a boom in productivity. It's important to note that while the report states that a quarter of work tasks in the US and Europe could be replaced by AI, the total annual value of goods and services globally could go up by 7%.
The impact of AI will be felt unequally across industries, though.?
The report claims that 46% of tasks in administration and 44% in legal professions would become automated but only 6% jobs will be eliminated in construction and 4% in maintenance.
Also read:?ChatGPT's Popularity Is Being Leveraged To Spread Malware On Facebook
While this takeover sounds apocalyptic, it's imperative to note that 60% workers are currently employed in jobs that didn't exist until 1940. The implication of this is that AI could help create as many new job opportunities as it takes away due to its fast-developing capabilities, especially in creative arenas.
A different report by World Economic Forum (WEF) from 2020 titled "The Future of Jobs Report 2020" stated that artificial intelligence could replace 85 million jobs worldwide by 2025. At the same time, it mentioned that 97 million new jobs would be created in the same timeframe.
Also read:?Google's New AI 'Bard' Says Its Parent Company Has 'Anti-Competitive' Monopoly
If you think this is far-fetched, trying throwing a challenge at ChatGPT's direction. All you need are the right prompts and keywords to stop doing mundane tasks like writing e-mails, curating social media posts, and responding to customer service requests. Even then, such AI tools aren't perfect and would need the assistance of a human editor to truly get the right message across.
What do you think about the potential of AI takeover in various industries? Let us know in the comments below.?For more in the world of?technology?and?science, keep reading?Indiatimes.com.
