According to a Goldman Sachs report, widespread use of artificial intelligence has the potential to replace approximately 300 million full-time jobs.
According to the report, it could replace a quarter of work tasks in the United States and Europe, while also creating new jobs and increasing productivity.
Furthermore, according to the report, it could eventually increase the total annual value of goods and services produced globally by 7%.
Future of AI
The report also mentions generative AI as a significant breakthrough, capable of producing content that is virtually indistinguishable from human work.
The UK government is eager to encourage investment in artificial intelligence, which it believes will ultimately boost productivity across multiple industries. The government has made an effort to allay public fears about the potential impact of it.
Michelle Donelan, Secretary of Technology, stated:
We want to make sure that AI is complementing the way we work in the UK, not disrupting it – making our jobs better, rather than taking them away.
The report emphasizes that the impact will vary by industry. It is predicted that approximately 46% of administrative tasks and 44% of legal tasks could be automated, while only 6% of construction and 4% of maintenance tasks could be automated.
ChatGPT enables people with average writing skills to create essays and articles, increasing competition for journalists.
Unless there is a significant increase in demand for their services, increased competition may result in wage reductions.
If generative AI, such as chatGPT, progresses in the same way as previous technological advancements, it may reduce employment in the near future. However, because the long-term impact of it is unknown, all firm predictions should be taken with a grain of salt.
Another major update to Apple’s Siri voice assistant is on the horizon. An function that would give Siri the ability to generate natural-sounding phrases has apparently been under trial at the tech giant.
With ChatGPT and GPT4, OpenAI now controls a sizable portion of the generative market. In spite of this growing AI competition, several large tech companies have been launching their own generative tools. For this purpose, Apple is merely another illustration.
As reported by international magazine, The tech giant has been working on giving Siri the ability to generate natural language responses and content.
More than 1,000 artificial intelligence experts, researchers, and supporters have joined a call for a six-month moratorium on the development of “giant” AIs so that the capabilities and dangers of systems like GPT-4 can be properly studied and mitigated.
The demand is made in an open letter signed by major players such as Elon Musk, co-founder of Open, the research lab responsible for ChatGPT and GPT-4, Emad Mostaque, founder of London-based Stability AI, and Steve Wozniak, co-founder of Apple.