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AI Could Replace Equivalent Of 300 Million Jobs – Report

AI could replace 300 million jobs

With the invention of the dominant  AI tools ChatGPT and Google Bard — the debate over whether “artificial intelligence” could replace humans has intensified. And studies have shown that some industries will be severely affected.

Artificial intelligence (AI) could replace 300 million full-time jobs, according to a report by the financial institution Goldman Sachs.

According to the report, the advent of AI enablement is a significant development, as it could replace up to a quarter of job jobs in the United States and Europe.

However, this technological innovation can also lead to the invention of the latest jobs and increased productivity. What’s more, the report foretells that generative artificial intelligence could improve the total annual economy of things and services makeover globally by 7%.

According to the report, the impact will also vary significantly by industry. Therefore the business and legal sectors will see the biggest impact with 46 percent of business jobs and 44 percent of legal jobs at risk of being replaced by Artificial Intelligence.

The report, according to BBC, says that AI can replace the equivalent of 300 million (30 crores) jobs. If AI developers live up to their promises, the job market could face a major crisis.

Using data on careers in the US and Europe, they found that

( Nearly two third of jobs—- are now unveiled to some level of AI automation and this AI model could replace up to a quarter of work )

As stated in research  by  investment bankers Learn more about this Here

In the United Kingdom

The government wants to boost investment in artificial intelligence in the UK, which it says will ultimately lead to growth in the country’s economy. And tried to convince the public about its validity, even discussing principles.

Michelle Donelan who is the technology Secretary says:

( We want to make ensure that —– AI is aggregating in the same manners we perform in the UK, not deranging it – making our jobs good, rather than reducing them away)


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