ChatGPT-like AI Could Replace the Equivalent of 300m Workers
A new Goldman Sachs report will be scary reading for some.
Artificial intelligence (AI) has made remarkable advancements over the last few years, and LLMs like ChatGPT, appear to be on the brink of causing major changes to our working lives.
A new report from the investment bank Goldman Sachs says that “If generative AI delivers on its promised capabilities, the labour market could face significant disruption”.
Job losses but increased productivity
The report predicts that generative AI could replace the equivalent of 300 million full-time jobs. However, the report also notes that, in the next 10 years, AI may create new jobs and fuel a productivity boom which could increase the total annual value of goods and services produced globally by 7%.
Generative AI, capable of creating content indistinguishable from human work, is “a major advancement,” the report says. It is capable of writing software, holding conversations, and even composing poetry. Since the launch of OpenAI’s ChatGPT in November, many tech companies have been looking to capitalize on it.
Microsoft is incorporating ChatGPT into its Bing search engine, and its office suite Microsoft 365…
