Advanced chatbots, also known as "generative" AI tools like ChatGPT, have made significant advancements in creating human-like language and understanding context. This has resulted in them surpassing humans in certain tasks, leading to concerns over job loss in white-collar industries. Goldman Sachs predicts that this could make up to 300 million jobs worldwide redundant. As a result, several papers are examining which sectors will be most affected by this technological shift.
According to a recent study by OpenAI, 80% of Americans have at least 10% of their work tasks that could be completed by advanced AI tools. This study looked at the potential for automation across 1,016 occupations by having both humans and AI rate the ability of software powered by large-language models to undertake tasks involved in different jobs. They found that skilled and high-paying jobs were most at risk for automation. The industries most affected by this automation are legal services and some areas of the financial and insurance industries, with telemarketers being the occupation most likely to be made redundant followed by language, literature, and history teachers.
However, this potential for automation should not be feared as it could unshackle workers from mundane tasks and boost labor productivity. Nevertheless, there are concerns that some tacit skills in professions may be overlooked and human qualities like empathy or charisma may be disregarded. Moreover, many businesses may lack the inclination to accommodate AI innovations and those that embrace it will face practical and legal issues with accuracy, privacy, and intellectual property. Nonetheless, AI tools will still need handlers, and this may even lead to new job opportunities. A study by Goldman Sachs suggests that generative AI could grow global GDP by 7% in the next decade.