Goldman Sachs Warns Generative AI Could Replace Millions of Jobs Worldwide

(MENAFN) Goldman Sachs, one of the leading investment banks, has recently warned that the rapid development of artificial intelligence (AI) could result in major disruption to the global job market. The bank has estimated that up to 300 million full-time jobs worldwide could be replaced by generative AI, specifically ChatGPT, which is capable of creating new material independently. This technological advancement represents a significant breakthrough that could have large macroeconomic effects.

The report published by Goldman Sachs highlights that approximately two-thirds of jobs in the United States and Europe are currently exposed to some degree of AI automation. Generative AI has the potential to substitute for a quarter of current jobs, which could lead to significant job displacement. The investment bank also notes that the ability of generative AI to create content that is indistinguishable from human-created output and to break down communication barriers between humans and machines reflects a major technological advancement.

Although there is significant uncertainty surrounding the potential impact of generative AI, it is clear that the technology is rapidly advancing and has the potential to revolutionize the job market. As a result, it is crucial for individuals and organizations to adapt and prepare for the changes that could occur in the near future. While the potential benefits of AI are vast, it is important to consider the potential consequences and mitigate the risks to ensure a smooth transition towards a more technologically advanced future.

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