Goldman Sachs, an investment banking company, has predicted that Artificial Intelligence (AI) could replace as many as 300 million (30 crore) full-time jobs, as various sectors see the adaption of AI in multiple industries in the future.
According to BBC, various job sectors may see the impact of AI if it delivers on the proposed capabilities. Almost two-thirds of current jobs may get exposed to AI automation, said an investment banker in a research note titled 'The Potentially Large Effects of Artificial Intelligence on Economic Growth.'
However, the report also highlights that AI may also open new avenues of employment and could also prove a productive force for the GDP.
Which sectors will be impacted by AI?
Further according to the report, jobs in administrative and legal sectors may see the maximum impact of AI as nearly 46 per cent of jobs could get affected.
Sectors that may see the least impact of Artificial Intelligence will include cleaning, maintenance, installation, repair, and construction jobs.
How technology advancement has impacted job sectors so far?
The report says that ever since the advancement in technology in the 1980s, innovations in various sectors have generated fewer jobs in comparison to the number it displaced. However, it further says that around 60 per cent of today's workforce engages in jobs that didn't exist in the 1940s.
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