The greatness of AI technology cannot be denied and the tech world continues to be revolutionized by the endeavor.
We’ve seen leading tools and software programs like ChatGPT make it big and hold great significance in making a difference in people’s lives. But with that does come the fear of taking over people’s manual jobs.
New research is shedding light on how the threat of causing significant disruption in the American job market is plenty. But if you think this technology is going to get you fired anytime soon, well, that may not be the case exactly.
The research by Goldman Sachs proves in a new report that around the world, generative AI is doing a great job at exposing nearly 300 million full-time opportunities and converting them into automated means through such endeavors.
The investment bank says that nearly two-thirds of American occupations are getting exposed to a certain degree of this kind of automation and among the jobs exposed, a lot of them have an important share where their workload could well be replaced by AI models.
Similarly, this research reports how one-fourth of the current jobs may well be automated by AI models across the US. And those sectors that appear to be the most at risk include the domains of administrative support, engineering, architecture, and even physical sciences.
But those who deal with the manual and outdoor labor industry would obviously be seeing the least impact.
Thankfully, the research admits that today’s rise in programs like ChatGPT won’t replace most of us. And instead, we will just see it adding AI technology to boost productivity in the workforce.
The impact of AI on labor is major but most jobs are only exposed to such automated endeavors to help complement them and not replace them, the report further explained.
Similarly, we saw the research highlight how the current stats prove that just 7% of American employment would be completely substituted through AI technology linked to that profession. And it would entail it behaving as a complement to this type of work too. Meanwhile, just 30% of the remainder 30% would stay unaffected.
Even when workers don’t lose jobs to such AI initiatives, we see this anticipating how most workers would find better and newer occupations come forward thanks to more people adopting AI technology.
The goal here is to boost productivity across so many sectors. Furthermore, the researchers feel AI models may actually help the world’s economy and boost the total GDP of the country by 7%.
It’s quite interesting how this report is arriving at a time when we saw ChatGPT’s makers, OpenAI carries out its own respective study. It found how so many generative AI programs would disrupt 19% of the overall job industry across America.
So many careers including writing, computer programming, and even language translations are up for grabs of being affected the most and having the greatest impact felt.
But keeping that aside, we need to remember that this research failed to account for a few other factors including the errors that such models make and how the probability is high in that regard.
Read next: Sam Altman Doubles Down on AI Fears Despite Criticism
We’ve seen leading tools and software programs like ChatGPT make it big and hold great significance in making a difference in people’s lives. But with that does come the fear of taking over people’s manual jobs.
New research is shedding light on how the threat of causing significant disruption in the American job market is plenty. But if you think this technology is going to get you fired anytime soon, well, that may not be the case exactly.
The research by Goldman Sachs proves in a new report that around the world, generative AI is doing a great job at exposing nearly 300 million full-time opportunities and converting them into automated means through such endeavors.
The investment bank says that nearly two-thirds of American occupations are getting exposed to a certain degree of this kind of automation and among the jobs exposed, a lot of them have an important share where their workload could well be replaced by AI models.
Similarly, this research reports how one-fourth of the current jobs may well be automated by AI models across the US. And those sectors that appear to be the most at risk include the domains of administrative support, engineering, architecture, and even physical sciences.
But those who deal with the manual and outdoor labor industry would obviously be seeing the least impact.
Thankfully, the research admits that today’s rise in programs like ChatGPT won’t replace most of us. And instead, we will just see it adding AI technology to boost productivity in the workforce.
The impact of AI on labor is major but most jobs are only exposed to such automated endeavors to help complement them and not replace them, the report further explained.
Similarly, we saw the research highlight how the current stats prove that just 7% of American employment would be completely substituted through AI technology linked to that profession. And it would entail it behaving as a complement to this type of work too. Meanwhile, just 30% of the remainder 30% would stay unaffected.
Even when workers don’t lose jobs to such AI initiatives, we see this anticipating how most workers would find better and newer occupations come forward thanks to more people adopting AI technology.
The goal here is to boost productivity across so many sectors. Furthermore, the researchers feel AI models may actually help the world’s economy and boost the total GDP of the country by 7%.
It’s quite interesting how this report is arriving at a time when we saw ChatGPT’s makers, OpenAI carries out its own respective study. It found how so many generative AI programs would disrupt 19% of the overall job industry across America.
So many careers including writing, computer programming, and even language translations are up for grabs of being affected the most and having the greatest impact felt.
But keeping that aside, we need to remember that this research failed to account for a few other factors including the errors that such models make and how the probability is high in that regard.
Read next: Sam Altman Doubles Down on AI Fears Despite Criticism
