Technology Threatens To Kill 300 Million Jobs

Rapid developments in AI are having an impact across virtually all economic sectors. The current writer strike has its roots in anxieties about artificial intelligence. There is obviously cause for caution, as was shown in a study published earlier this year.

A research by Goldman Sachs Economic Research published in March found that because to developments in AI, content may be generated that is nearly indistinguishable from human-created. It’s on the cusp of “breaking down communication barriers between humans and machines” and making it possible for enterprises to automate previously human-performed operations.

The study expressed concern that generative AI will affect employment. About 300 million full-time jobs may be lost if these projects succeeded in replacing a quarter of today’s jobs. Penn researchers have identified jobs that are unlikely to be automated away any time soon. Jobs in construction, farming, restaurants, and more are among the roughly two dozen listed here. Some of today’s seemingly secure jobs may not be so secure in the future as technology develops.

There are concerns about the exploitation of AI technology in addition to the obvious economic implications, which include the loss of millions of jobs around the world. Former Google CEO Eric Schmidt has called for legislation to be enacted to prevent “evil people” from abusing technology. According to him, “existential risk is defined as many, many, many people harmed or killed.” Schmidt warned that even while the worst-case situations haven’t materialized yet, that might change.

Legislators should be proactive in order to mitigate the future difficulties as much as possible. To this point, that has not materialized. There have been discussions, but not many concrete results; this could spell trouble for the country and the world in the years ahead.