Globally, more than 300 million human jobs are likely to be replaced by new technologies powered by artificial intelligence, according to the report. Most of the tasks performed by humans may be replaced by AI systems. According to the study report, AI systems like ChatGPT will make huge strides in this field. A report by Goldman Sachs claims that chatGPT and other AI tools could replace more than 30 crore jobs, according to current estimates. The upgraded AI system called GPT-4 is said to be able to handle 20 more tasks than ChatGPT alone.
Based on data analysis of jobs in the US and Europe, Goldman Sachs suggests that generative AI could replace about 300 million full-time jobs worldwide. Two-thirds of the jobs currently performed by humans involve some degree of AI activity. And it’s estimated that generative AI could handle up to a quarter of current jobs.
Generative AI refers to artificial intelligence capable of generating original content such as images, music, and text. There are already a dozen apps that help you create text and images. In fact, Microsoft has already integrated OpenAI’s Dall-E, an imaging creation tool, with Bing. This technology can have a significant impact on the labor market, especially for white-collar occupations. The Goldman report highlights legal workers and administrative staff in the US as particularly vulnerable to this technology.
According to a study report by researchers at Princeton University, University of Pennsylvania and New York University, legal services are expected to be most affected by technologies like ChatGPT. The study suggests that AI systems could replace lawyers and law clerks in some tasks such as document review and due diligence. However, it is important to note that while AI technology may displace some jobs, it also has the potential to create new jobs and industries.