We’ve got good news and bad news. Good news: Advances in artificial intelligence (AI) promise to boost productivity and global GDP! Bad news: it could cost you your job.
What happened: Generative AI could lift global GDP by 7% over a ten-year period, per a new study by Goldman Sachs, but would also disrupt ~300 million jobs in major economies. Lawyers and admin staff are particularly at risk of being replaced, according to Goldman.
- The study estimated around two-thirds of jobs in the US and Europe are exposed to AI automation. A study by ChatGPT-maker OpenAI put that number as high as 80%.
Why it matters: Automation putting people out of work is nothing new, AI is just the most recent iteration. What is new is the type of jobs that will be affected. While robots previously took jobs on assembly lines, now it's the white-collar workers who will sustain losses.
A study by the University of Pennsylvania found blue-collar industries were likely to remain relatively untouched by AI, with motorcycle mechanics, oil refinery workers, and short-order cooks amongst the least affected (though cooks will still have to go against Flippy).
- The study also claims that information processing roles like court reporters and blockchain engineers were highly exposed.
- Even writers of quizzes and pop culture listicles could be at risk of replacement, as Buzzfeed employees are now finding out.
Bottom line: AI could be the first technology in modern memory to cause mass job losses for the highly educated, and workers are starting to worry. A ZipRecruiter survey following ChatGPT’s release found 62% of job-seekers worry AI will blow up their careers.—QH