Technology news in Nepal
“AI development may lead to unemployment for millions, says Goldman Sachs”
Date: March 30, 2023
The development of AI platforms may lead to around 300 million full-time job losses worldwide, according to Goldman Sachs economists. The increasing use of artificial intelligence in various industries may render many jobs obsolete, leading to mass unemployment.
Vulnerable Jobs in the Age of AI
The Goldman Sachs report highlights the potential impact of AI on global employment. The study found that AI systems are becoming increasingly sophisticated and capable of performing many tasks that were previously only possible for humans. This trend is expected to accelerate in the coming years, leading to job losses across various industries.
“Vulnerable Jobs and Wages: The Impact of AI on Employment”
The report suggests that some jobs may be more vulnerable to automation than others. For example, jobs that involve repetitive tasks or data entry are more likely to be automated than those that require complex decision-making or creativity. The study also notes that low-wage jobs are more at risk of being replaced by AI systems than high-wage jobs.
The potential job losses due to AI development are not limited to any particular industry or region. The report suggests that job losses may be felt across various sectors, including manufacturing, transportation, retail, and healthcare. The report also notes that developing countries may be more vulnerable to job losses than developed countries, as they have a higher proportion of jobs that are at risk of automation.
Conclusion: The Goldman Sachs report highlights the potential impact of AI development on global employment. The increasing use of AI systems may lead to around 300 million full-time job losses worldwide. This trend is expected to continue in the coming years, leading to mass unemployment across various industries and regions.
Stay tuned for more updates on the impact of AI on the job market.