Investment bank Goldman Sachs has echoed the fears of worker around the world that generative AI, like ChatGPT and Google Bard, could very soon replace our jobs.
Despite the technology having a respectably healthy effect on global GDP, the bank's report highlights that 300 million jobs are at risk, and that “significant disruption” is on the horizon as artificial intelligence becomes more accurate.
Some hope is portrayed in the mention that generative AI can ultimately boost workers’ productivity, making the news more of a shift in work patterns rather than total redundancy, however how the world adapts to AI remains pivotal to the livelihood of millions.
Will AI take my job?
As we have come to expect, AI’s effects are far-felt, extending to an estimated two-thirds of US and European jobs, with office and administrative support, and legal both likely to be heaviest affected. Building and grounds cleaning and maintenance; installation, maintenance, and repair; and construction and extraction are all among the least likely to be affected.
A smaller, but no less worrying, percentage of people are deemed to be working in high-risk roles. As many as 7% of US workers could see at least half of their work replaced by generative AI, presenting a significant risk to their roles.
Goldman Sachs’s predictions haven’t come from nowhere, though. OpenAI, the company behind popular generative AI ChatGPT, recently announced (opens in new tab) the findings of a study on the effects of such models on the labor market. It found that four in five workers would see at least 10% of their work tasks affected by GPTs, while almost one in five would see at least half of their work affected.
While many have likened this new era to the transition from industrial to technological, others argue that even more people are at risk of being left behind, highlighting the urgency for countries and organizations to carefully consider – and even reconsider – the implications of AI.
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