- Generative AI could lead to « significant disruption » in the labor market, says Goldman Sachs.
- Researchers at the company estimated that the new tech could impact 300 million full-time jobs.
- AI systems could also boost global labor productivity and create new jobs, according to the report.
Generative artificial intelligence systems could lead to « significant disruption » in the labor market and affect around 300 million full-time jobs globally, according to new research from Goldman Sachs.
Generative AI, a type of artificial intelligence that is capable of generating text or other content in response to user prompts, has exploded in popularity in recent months following the launch to the public of OpenAI’s ChatGPT. The buzzy chatbot quickly went viral with users and appeared to prompt several other tech companies to launch their own AI systems.
Based on an analysis of data on occupational tasks in both the US and Europe, Goldman researchers extrapolated their findings and estimated that generative AI could expose 300 million full-time jobs around the world to automation if it lives up to its promised capabilities.
The report, written by Joseph Briggs and Devesh Kodnani, said that roughly two-thirds of current jobs are exposed to some degree of AI automation while generative AI could substitute up to a quarter of current work.