A new report from Goldman Sachs states that artificial intelligence (AI) can potentially replace up to 300 million full-time jobs in a variety of fields. The report suggests that AI could automate more than half of work tasks in the US and Europe.
Despite those slightly scary facts, AI could also create multiple new jobs, leading to a big overall productivity boom. The use of generative artificial intelligence, which can now create content almost 100% indistinguishable from human work, is the most significant advancement in technology in quite a while.
The UK government has been remarkably eager to promote investments in AI, however, has also reassured the public about the impact of the technology on employment.
The report notes that the impact of AI will vary majorly across different sectors, with up to 46% of tasks in administrative and legal professions being automatable, compared to only 6% in construction and 4% in maintenance.
The report also highlights the concerns about the impact of generative AI on specific professions. Some artists have already begun expressing fears that AI image generators could harm their employment prospects, while university professors among others have also started to speak up about it.
Overall it's still uncertain how the long-term impact of AI will play out, AI is still new for a lot of people and still has plenty of room to grow.
