Artificial intelligence (AI) might be all fun and games now, but the coming effects will be devastating, one top investment bank says.
Goldman Sachs estimates that 300 million jobs could be lost or diminished by the technology as automation renders human workers unnecessary.
“If generative AI delivers on its promised capabilities, the labor market could face significant disruption,” the bank said in a recent report. “Using data on occupational tasks in both the US and Europe, we find that roughly two-thirds of current jobs are exposed to some degree of AI automation, and that generative AI could substitute up to one-fourth of current work.”
“Extrapolating our estimates globally suggests that generative AI could expose the equivalent of 300mn full-time jobs to automation,” the bank said.
Since the report came out, others have chimed in to say artificial intelligence may pose a greater threat to humanity. Last month, Google CEO Eric Schmidt warned that AI bring existential risks, adding that governments will need to step in to ensure technology is not “misused by evil people.”
Billions worldwide.
Our own intelligence is flawed and irrationally tainted by survival directives and GREED. We don’t run on batteries though.