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AI could potentially compete with human labor and impact 300 million jobs worldwide.
Artificial Intelligence (AI) products are prevalent across various labor sectors, from assembly lines and heavy machinery operations to patient care and restaurant services. According to a report by Goldman Sachs, AI could rival human labor and affect 300 million jobs globally.
According to Goldman Sachs, two-thirds of jobs in the US and Europe could undergo automation to some extent. Over the next decade, the utilization of AI technology could also enhance labor productivity and raise global GDP by up to 7%.
Reports indicate that the highest rate of job automation lies in administrative and office support roles, reaching up to 46%, followed by legal positions (44%) and jobs related to architecture and engineering (37%).
Chris Stokel-Walker, a technology correspondent for The Guardian, revealed that tools like ChatGPT have been utilized by some law firms in the UK for drafting basic legal documents. They describe this AI tool as akin to an intern for the company, adeptly grasping its tasks despite not being as experienced as seasoned professionals.
Goldman Sachs forecasts that with the widespread development of artificial intelligence (AI) products on a global scale, up to 300 million full-time human jobs could be replaced. The countries and regions most heavily impacted by AI development are Hong Kong (China), Israel, Japan, Sweden, the United States, and the United Kingdom.
Meanwhile, the labor force most susceptible to replacement by AI in countries such as India, Kenya, Vietnam, mainland China, Nigeria, and Thailand is lower, with rates of 15% or less.
