Artificial intelligence could replace the equivalent of 300 million full-time jobs, a report by investment bank Goldman Sachs says.
The report notes AI's impact will vary across different sectors - 46% of tasks in administrative and 44% in legal professions could be automated but only 6% in construction 4% in maintenance, it says."The only thing I am sure of is that there is no way of knowing how many jobs will be replaced by generative AI," Carl Benedikt Frey, future of-work director at the Oxford Martin School, Oxford University, told BBC News.
"Consider the introduction of GPS technology and platforms like Uber. Suddenly, knowing all the streets in London had much less value - and so incumbent drivers experienced large wage cuts in response, of around 10% according to our research."Over the next few years, generative AI is likely to have similar effects on a broader set of creative tasks".According to research cited by the report, 60% of workers are in occupations that did not exist in 1940.