Chat Gpt and other artificial intelligence threaten 300 million jobs

Chat Gpt and other artificial intelligence threaten over 300 million jobs worldwide. According to an analysis by Goldman Sachs, generative AI could induce an industrial transformation similar to those favored by the advent of the electric motor and information technology. With all the opportunities for economic growth and the social contradictions of the case.
US bank experts consider Chat Gpt to have enormous industrial potential. It is able to generate contents indistinguishable from human creations and above all to break down the communication barriers between people and machines. As a result, it is able to perform many tasks currently performed by humans faster, cheaper, and probably even better. The institute’s analysts therefore predict that AI will lead to an annual increase in global GDP of 7%.
But at what price? Based on employment data in the United States and Europe, Goldman estimates that approximately two-thirds of current occupations are exposed to varying degrees to automation, and that generative AI could replace about a quarter of the jobs performed. Hence the estimate of about 300 million jobs at risk of automation.
Of course, this does not mean that some jobs will be performed only by machines in the future. However, the automation of many repetitive tasks will reduce the need for manpower in many industries. According to Goldman Sachs, administrative employees, lawyers, engineers and architects are in order to run the greatest risk of replacement. On the other hand, fewer risks exist for jobs with a high physical content such as construction or healthcare, where AI has little or no replacement capacity.
Again, it should be reiterated, Chat Gpt will not carry out all the legal and planning activities, but will reduce the need for personnel to complete them with the same result. When will this replacement take place? It’s hard to predict. Of course, the fact that Chat Gpt has raked in one million users in just five days is an indication of the speed of the changes taking place.
On the other hand, Goldman recalls, the engine and computer precedents provide some hint of experience. In both cases, the increase in labor productivity occurred about 20 years after the introduction of the technology and when more than half of the companies adopted it. And in both cases, the industrial revolution created more jobs than it eliminated.
Will it be the same for Chat Gpt and other generative artificial intelligences? Industrial history authorizes a certain optimism, but also advises caution. If it is true that 60% of people are now employed in professions that did not exist in 1940, it is also true that since 1908 technological progress has displaced more jobs than it has created.