Goldman Sachs claims AI could very soon replace 300 million jobs in the US and Europe

Published March 29, 2023 | By NewsJive.com

According to a new report by the investment bank giant Goldman Sachs, Artificial intelligence (AI) could in a near future replace over 300 million full-time jobs in the US and Europe.

This would mean according to the report, that a quarter of work tasks in the US and Europe will be affected by the new circumstances replacing the human force with AI with fast growing platforms like ChatGPT and other wave of AI-solutions and automated processes.

But not everything is bad as it seems according to Goldman’s economists. This transformation could instead eventually increase the total annual value of goods and services produced globally by 7%, according to the report.

For AI to replace the human work force is according to the report “a major advancement”.

White-collar workers are more at risk than blue-collar workers

Goldman Sachs report predicts that 18% of all work globally could be computerized, with the effects felt more deeply in advanced economies in US and Europe, than in emerging markets in the third world.

And the reason for this, is that white-collar workers are seen to be more at risk than manual laborers.

Administrative workers and lawyers are expected to be most affected, compared to the little effect seen on physically demanding or outdoor occupations such as construction and repair work, the report says.

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