According to a report by Goldman Sachs, if generative AI lives up to its hype, the workforce in the United States and Europe will be upended. The investment bank estimates that **300 million jobs** could be lost or diminished by this fast-growing technology¹. However, Goldman Sachs also contends that automation creates innovation, which leads to new types of jobs. For companies, there will be cost savings thanks to AI. They can deploy their resources toward building and growing businesses, ultimately increasing annual global GDP by 7%
Source:
(1) Goldman Sachs Predicts 300 Million Jobs Will Be Lost Or … – Forbes. https://www.forbes.com/sites/jackkelly/2023/03/31/goldman-sachs-predicts-300-million-jobs-will-be-lost-or-degraded-by-artificial-intelligence/.
(2) 300 million jobs could be affected by latest wave of AI, says Goldman Sachs. https://www.cnn.com/2023/03/29/tech/chatgpt-ai-automation-jobs-impact-intl-hnk/index.html.
(3) Goldman Sachs: ChatGPT could see the loss of 300 million jobs worldwide …. https://www.digitaljournal.com/tech-science/goldman-sachs-chatgpt-could-see-the-loss-of-300-million-jobs-worldwide/article.
(4) Goldman Sachs: 300 million jobs could be affected by AI. https://www.cbsnews.com/sacramento/news/goldman-sachs-300-million-jobs-could-be-affected-by-ai/.
DO IT WITH PASSION OR NOT AT ALL 