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Generative AI could hit 300m jobs - report

David Murphy

Generative artificial intelligence (AI) systems could affect around 300m jobs globally, according to a new report from the investment bank, Goldman Sachs.

Generative AI hit the headlines recently with the launch of ChatGPT, and Microsoft’s subsequent $10bn investment in the AI platform. The Goldman Sachs report analysed occupational tasks in Europe and the US, and concluded that up to 300m jobs could be affected by the technology if it lives up to its potential.

The impact of the technology would vary by type of work, the report says, noting that it could affect 46 per cent of administrative tasks, but only 6 per cent of construction work.

Despite the potential negative impact on employment figures, however the report concludes that generative AI is a major enhancement, and says it could increase the total vakue of goods and services produced annually by 7 per cent.