New report says 300 million jobs at risk from new tech
A new report by investment bank Goldman Sachs has warned that a significant proportion of jobs could be automated in the coming years as a result of advances in artificial intelligence (AI).
The report highlighted the potential economic benefits of "generative" AI systems, such as ChatGPT, which can create content indistinguishable from that produced by a human, and suggested that such technology could increase global GDP by 7% within a decade.
However, the report also warned that the technology could cause "significant disruption" to employment, putting around 300 million full-time jobs at risk of being automated. Lawyers and administrative staff were cited as being among those at particularly high risk.
The report's authors, Joseph Briggs and Devesh Kodnani, calculated that two-thirds of jobs in the US and Europe could be affected by automation. However, they also noted that most employees would likely see less than half of their workload automated and could continue in their jobs with additional time freed up for more productive work.
The report underscores the need for individuals and governments to prepare for the coming wave of technological change and to find ways to ensure that workers are not left behind in the transition.
The administrative and legal sectors are anticipated to bear the brunt of the impact caused by automation, with 46% of administrative jobs and 44% of legal jobs substitutable by AI.
Unsurprisingly, physically-demanding professions, such as construction and maintenance, have a lower risk of job displacement, with just 6% and 4%, respectively, according to the report.
In a recent Capterra report, 98% of HR Leaders surveyed said they would use software and algorithms to decide who to cull in a recession.
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