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Generative AI, a form of artificial intelligence capable of creating text or other content in response to user prompts, has quickly gained popularity following the public launch of OpenAI’s ChatGPT.
Since its November 2022 release, people have used AI chatbot ChatGPT for an array of this, including college WRITING e-level essays and GENERATING code.
The AI race heated up after Google released Bard on March 21, a ChatGPT competitor and a separate entity from the company’s Google search engine.
A recent report from Goldman Sachs estimates around 300 million jobs could be affected by generative AI, meaning 18% of work globally could be automated—with more advanced economies heavily impacted than emerging markets.
The report also predicts two-thirds of jobs in the U.S. and Europe “are exposed to some degree of AI automation,” and around a quarter of all jobs could be performed by AI entirely.
Researchers from the University of Pennsylvania and OpenAI found some educated white-collar workers earning up to $80,000 a year are the most likely to be affected by workforce automation.
According to the report, jobs in agriculture, mining and manufacturing are the least exposed to generative AI, while jobs in the information processing industries, like IT, are the most exposed because jobs that use "programming and writing skills" are more closely related to GPT’s capabilities.
Generative AI isn’t perfect, both OpenAI and Google admit their program sometimes gives incorrect responses and has other flaws, like ChatGPT’s knowledge base that ends in 2021, and Bard’s limited conversation retention.
Since its November 2022 release, people have used AI chatbot ChatGPT for an array of this, including college WRITING e-level essays and GENERATING code.
The AI race heated up after Google released Bard on March 21, a ChatGPT competitor and a separate entity from the company’s Google search engine.
A recent report from Goldman Sachs estimates around 300 million jobs could be affected by generative AI, meaning 18% of work globally could be automated—with more advanced economies heavily impacted than emerging markets.
The report also predicts two-thirds of jobs in the U.S. and Europe “are exposed to some degree of AI automation,” and around a quarter of all jobs could be performed by AI entirely.
Researchers from the University of Pennsylvania and OpenAI found some educated white-collar workers earning up to $80,000 a year are the most likely to be affected by workforce automation.
According to the report, jobs in agriculture, mining and manufacturing are the least exposed to generative AI, while jobs in the information processing industries, like IT, are the most exposed because jobs that use "programming and writing skills" are more closely related to GPT’s capabilities.
Generative AI isn’t perfect, both OpenAI and Google admit their program sometimes gives incorrect responses and has other flaws, like ChatGPT’s knowledge base that ends in 2021, and Bard’s limited conversation retention.
JOBS MOST IMPACTED
- Finance and banking: Banks have already begun incorporating AI into their business models. 56% of banks claim they’ve implemented the technology into their business domains like management, and 52% claim they’ve used it for revenue generation, according to Cambridge Centre for Alternative Finance and the World Economic Forum.
- Media and marketing: Kristian Hammond, chief scientist of Natural Sciences told the BBC in 15 years, “90% of news will be written by machines.” Natural Sciences has a software called Quill, an AI paraphrasing tool that writes company reports ahead of earning announcements.
- Legal services: An attorney used ChatGPT to publish a 14-page legal paper published in Social Science Research Network on a plethora of prompts, including creating a contract, explaining why the Supreme Court’s decision on same-sex marriage shouldn’t be appealed and developing deposition questions. The AI bot has the potential “to address access to justice questions” and make legal services available to those who can’t afford it, Andrew Perlman, the author of the paper and a Suffolk University Law School Dean told Reuters.
JOBS LEAST IMPACTED
- Manufacturing and factory workers: This industry has been undergoing automation for a while, with General Motors credited as the first major manufacturer to implement robotics in their assembly lines after the introduction of UNIMATE in 1961. However, generative AI may speed up the process. For example, Elon Musk unveiled the Tesla Bot, or Optimus, an autonomous android made to replace humans in dangerous, repetitive jobs. Musk plans to place these bots in his Tesla factories and eventually expand to millions around the world.
- Agriculture: According to the U.S. Department of Agriculture, in 2021 there were 21.1 million full- and part-time jobs in the food and agriculture sectors, making up 10.5% of the labor force. Agriculture is considered one of the world’s oldest professions and has stood the test of time, lasting through four separate industrial revolutions. However, the National Institute of Food and Agriculture does fund AI research, education and extension activities in the areas of natural resources and environments, agricultural systems and engineering and economics and rural communities.
- Healthcare:Most unlikely to be affected.
- While Artificial Intelligence (AI) and other technologies are helping many people in a great way, it is also slowly taking away the jobs of users. A report released by the World Economic Forum (WEF) claims that AI and smart technologies will put job roles such as bank teller, cashier, and data entry clerk at risk. These roles could become obsolete in the next five years. The data is based on the survey of 803 companies that plan to adopt big data, cloud computing, and AI technologies in the coming years.
List of job roles that are at risk and could be declined
Ever since online banking became popular in the world, it has created a bad impact on many physical bank branches as they are now of no use. This has led to the closure of banks, leaving bank teller and related clerk jobs at risk and so, the report says around a 40 percent decline in such roles could be seen before the end of this decade.
Similarly, as automation, sensor technologies, and online services are witnessing high interest and growth, these are also diminishing the need for postal service clerks, cashier and ticket office clerks, and data entry staff.
In terms of highest absolute job losses, data clerks fare the worst, with an expected 8 million job losses within five years, followed by administrative and executive secretaries, and accounting, bookkeeping and patrol clerks. These three occupations combined account for more than half of total expected job destruction.
