AI Could Take Up to a Quarter of Jobs in Europe and the US, Study Finds
Dealing with disruptive technologies often involves addressing the concerns of those who are impacted by these innovations. The inception of Generative Artificial Intelligence (AI) has sparked worries about technological unemployment, as it has the capability to alter a significant portion of current tasks. According to Goldman Sachs, Generic AI could potentially take up to a quarter of existing jobs in Europe and the United States, especially in administrative and legal domains.
AI has already demonstrated its ability to create text, videos, and images that are indistinguishable from human-made content. This pattern recognition excels in tasks related to identifying associated works and is rapidly becoming skilled at making fundamental decisions across various domains, like handling customer service queries.
While the future impact of AI on employment remains uncertain, history provides some insight into potential reactions against AI. Drawing a direct parallel to the Luddites who opposed machines during the Industrial Revolution isn’t entirely accurate. Unlike machines, AI is a digital tool that can’t be physically destroyed. Moreover, AI poses a particular risk to white-collar jobs, making it unlikely for trade unions born out of the Industrial Age to revive in the face of automation.
The fear of technology-driven unemployment isn’t new. However, past phases of disruptive technological progress have also created new job opportunities and contributed to overall economic development. As society embraces AI, it’s essential to identify ways to mitigate any adverse effects on workers. This might involve retraining and upskilling programs and fostering an environment that encourages the development of new industries and job roles.
While the impact of AI on employment is undoubtedly a complex issue, it’s crucial to approach it with an open mind. Instead of resisting change outright, society should strive to find a balance that harnesses the potential benefits of AI while minimizing any negative consequences for workers.
