Much has been said and written about artificial intelligence (AI) in this column but more remains to be done. With recent advancements in AI, people are increasingly worried that powerful technology may eliminate several jobs in the future but we seem to be still at a loss. Last month, a report by Goldman Sachs predicted that as many as 300 million jobs could be affected by generative AI. The report, as per BBC, says that AI could potentially replace the equivalent of around 300 million (or 30 crores) full-time jobs.

 

The investment banker said in a research note titled ‘The Potentially Large Effects of Artificial Intelligence on Economic Growth’ said 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. This was in particular reference to the US and EU job markets but it holds true for the whole world.

 

The good news, however, is that the report also added that technological progress may mean new jobs and a productivity boom, which could eventually boost global GDP by as much as 7 percent. Generative AI systems like ChatGPT can create content very similar to human output and could spark a productivity boom over the next decade, the report said. As per the report, the impact will also vary significantly between different sectors.

 

Administrative and legal sectors will see the maximum impact with 46 per cent of administrative jobs and 44 per cent of legal jobs risking replacement by AI. Office administrative support, legal, architecture and engineering, business and financial operations, management, sales, healthcare and art and design are some sectors that will be impacted by automation.

 

Jobs with the lowest exposure to AI include cleaning and maintenance, installation and repair, and construction jobs, the report found. Physically intensive professions face low risk, with construction facing a six per cent threat while maintenance is looking at four per cent probable substitution.

 

In recent months, the world has witnessed the ascendency of OpenAI software ChatGPT and DALL-E. ChatGPT surpassed one million users in its first five days of launching, the fastest that any company has ever reached this benchmark. But that was a long time ago! Google released its generative artificial intelligence chatbot ‘Bard’ which is free to use, as of now. ChatGPT rival Google Bard was initially available to those in the US and the UK who signed up for a waitlist but has since been expanded to those in 180 countries. Bard is 10 times smarter than ChatGPT, they say. It is said that AI can now learn on its own and it looks like we’re all of a sudden living in some extraordinarily uncertain times. Some of the leading AI experts in the world are calling for a pause in launching more AI tools because humanity is not yet ready for it.
At such a time as this, will it not be prudent on our part to be talking more about AI and its implications? Schools, colleges and other institutions should start talking about AI already.

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