According to a recent study by investment
Posted: Mon Jan 06, 2025 8:38 am
Artificial intelligence ( AI) is becoming more and more ubiquitous, and while it promises to bring many wonders under its belt, it will also destroy a whole host of jobs.
bank Goldman Sachs , AI could replace (and therefore destroy) the equivalent of 300 million full-time jobs across the globe.
The report estimates that this technology could take over a quarter of work tasks in the United States and Europe, but will also presumably create new jobs and eventually translate into a productivity boom.
AI could also increase the annual value of products and services produced across the globe by 7%.
Although Elon Musk, Steve Wozniak and several AI experts recently called in an open kazakhstan number screening letter for the completely uncontrolled development of this technology to be halted , Goldman Sachs research describes artificial intelligence as a "first-rate advance" for humanity.
The impact of AI on the workforce will, however, vary significantly depending on the field of activity. 46% of administrative tasks and 44% of professional tasks in the legal field could be automated in the future. In contrast, AI will sink its sharp claws into only 6% of jobs in the construction sector. And in the maintenance sector, this technology will replace only 4% of jobs.
The so-called "white-collar workers" , educated workers whose tasks are directly related to legal advice and administration, would therefore be the most affected by AI.
Journalism will suffer particularly with the entry of AI on the scene
"There is no way of knowing exactly how many jobs will be replaced by AI ," warns Carl Benedikt Frey, director of the Future of Work at the Oxford Martin School at the University of Oxford, in statements to the BBC .
“ChatGPT allows, for example, people with average writing skills to produce essays and articles with great ease,” says Frey. “ Journalists will face more competition in this regard , which will probably ultimately translate into lower salaries ,” he stresses.
“A similar thing happened with the introduction of GPS technology and platforms like Uber. Knowing all the streets in London suddenly had much less value and drivers suffered a reduction in their jobs by around 10% as a result,” he says. “The result was that drivers’ wages plummeted , but the number of drivers did not decrease.”
"Over the next few years, generative AI could have similar effects on a wide range of creative tasks , " Frey said.
According to research by Goldman Sachs, 60% of workers now work in jobs that did not exist in 1940. However, other studies suggest that technological advances since the 1980s have destroyed jobs faster than they have created them.
In this sense, if generative AI looks in the mirror of other previous technological advances, it could clip the wings of employment in the short term.
The long-term impact of AI is, however , still quite uncertain, stresses Torsten Bell, executive director of the Resolution Foundation. “And any predictions in this regard should be approached with great caution,” he says.
"We don't know how technology will evolve and how companies will integrate it into their work routines," Bell warns.
bank Goldman Sachs , AI could replace (and therefore destroy) the equivalent of 300 million full-time jobs across the globe.
The report estimates that this technology could take over a quarter of work tasks in the United States and Europe, but will also presumably create new jobs and eventually translate into a productivity boom.
AI could also increase the annual value of products and services produced across the globe by 7%.
Although Elon Musk, Steve Wozniak and several AI experts recently called in an open kazakhstan number screening letter for the completely uncontrolled development of this technology to be halted , Goldman Sachs research describes artificial intelligence as a "first-rate advance" for humanity.
The impact of AI on the workforce will, however, vary significantly depending on the field of activity. 46% of administrative tasks and 44% of professional tasks in the legal field could be automated in the future. In contrast, AI will sink its sharp claws into only 6% of jobs in the construction sector. And in the maintenance sector, this technology will replace only 4% of jobs.
The so-called "white-collar workers" , educated workers whose tasks are directly related to legal advice and administration, would therefore be the most affected by AI.
Journalism will suffer particularly with the entry of AI on the scene
"There is no way of knowing exactly how many jobs will be replaced by AI ," warns Carl Benedikt Frey, director of the Future of Work at the Oxford Martin School at the University of Oxford, in statements to the BBC .
“ChatGPT allows, for example, people with average writing skills to produce essays and articles with great ease,” says Frey. “ Journalists will face more competition in this regard , which will probably ultimately translate into lower salaries ,” he stresses.
“A similar thing happened with the introduction of GPS technology and platforms like Uber. Knowing all the streets in London suddenly had much less value and drivers suffered a reduction in their jobs by around 10% as a result,” he says. “The result was that drivers’ wages plummeted , but the number of drivers did not decrease.”
"Over the next few years, generative AI could have similar effects on a wide range of creative tasks , " Frey said.
According to research by Goldman Sachs, 60% of workers now work in jobs that did not exist in 1940. However, other studies suggest that technological advances since the 1980s have destroyed jobs faster than they have created them.
In this sense, if generative AI looks in the mirror of other previous technological advances, it could clip the wings of employment in the short term.
The long-term impact of AI is, however , still quite uncertain, stresses Torsten Bell, executive director of the Resolution Foundation. “And any predictions in this regard should be approached with great caution,” he says.
"We don't know how technology will evolve and how companies will integrate it into their work routines," Bell warns.