Report says AI may impact 300 million jobs
Washington: A report released by investment bank Goldman Sachs has revealed that Artificial Intelligence (AI) may replace 300 million full-time jobs.
It could replace a quarter of work tasks in the US and Europe but may also mean new jobs and a productivity boom, reports BBC.
And it could eventually increase the total annual value of goods and services produced globally by 7%.
Generative AI, able to create content indistinguishable from human work, is "a major advancement", the report says.
British Technology Secretary Michelle Donelan said people in the UK should not fear AI.
"People should trust that computers which think and learn won’t be used to undermine their safety, their privacy, their rights or their health," Michelle Donelan told The Sun.
"We want to make sure that AI is complementing the way we work in the UK, not disrupting it – making our jobs better, rather than taking them away," Michelle said.
Carl Benedikt Frey, future of-work director at the Oxford Martin School, Oxford University, told BBC News told BBC: "The only thing I am sure of is that there is no way of knowing how many jobs will be replaced by generative AI."
"What ChatGPT does, for example, is allow more people with average writing skills to produce essays and articles," Frey said.
Top Headlines
-
News
Donald Trump picks 'smart and tough' Pam Bondi as new US Attorney General after Matt Gaetz withdraws
November 22, 2024
-
News
Baba Siddique murder case: Arrested Akashdeep Gill used a labourer's hotspot to evade tracking, say police
November 22, 2024
-
News
Canadian government denies media report that claims PM Modi knew of Khalistani leader Nijjar's killing
November 22, 2024
-
News
Pakistan: 42 Shiites die after gunmen open fire on vehicle in Kurram
November 22, 2024
-
News
PE firm TA Associates' strategic investment in VeeHealthtek
November 19, 2024
-
News
Manipur unrest: Civil society sets 24-hr deadline for BJP MLAs to take 'decisive action'
November 19, 2024
-
News
Delhi chokes as air quality remains in 'severe plus' category amid curb on several daily activities
November 19, 2024
-
News
Keir Starmer meets Narendra Modi in Brazil, announces relaunch of UK-India free trade agreement talks
November 19, 2024
-
News
Tirumala trust asks non-Hindu staffers to retire or opt for transfer
November 19, 2024
-
News
Manipur's unabated violence kills 1 more in Jiribam, Amit Shah schedules meeting today
November 18, 2024