WASHINGTON (TND) — A recent report by Goldman Sachs raises questions about how the rapid acceleration of generative artificial intelligence technology could impact labor and global economic growth.
There are tradeoffs, according to the report. There are about 300 million full-time jobs that could be exposed to automation. Researchers’ estimates suggest 18% of work globally could be automated by AI, affecting developed markets more than emerging markets. Specifically in the United States, they found roughly two-thirds of jobs are exposed to some degree of AI automation. Most jobs have a 25% to 50% share workload that could be substituted by the technology.
The disruption, however, could be a major boon to productivity, increasing yearly global GDP by 7% but the exact timing and size could be difficult to predict, the report noted.
“The boost to labor productivity growth could be much smaller or larger depending on the difficulty level of tasks AI will be able to perform and how many jobs are ultimately automated,” the report said.
Researchers point out historically, worker displacement due to automation has led to the emergence of new jobs which, along with technological innovations, has accounted for the vast majority of sustained job growth.
The emerging technology has also raised moral questions about how and where it should be implemented. This was brought up in an open letter signed by hundreds of tech industry power players like Elon Musk and Steve Wozniak calling for a six-month pause for AI labs training any system more powerful than the chatbot GPT-4.
“Should we automate away all the jobs, including the fulfilling ones? Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us?” the letter said.
The letter outlined an argument for developing governing rules for AI, including tailored regulatory authorities, oversight, watermarking systems to identify real and synthetic material, liability for AI-inflicted harms and funding for safety research.
“Humanity can enjoy a flourishing future with AI. Having succeeded in creating powerful AI systems, we can now enjoy an ‘AI summer’ in which we reap the rewards, engineer these systems for the clear benefit of all, and give society a chance to adapt,” the letter said.
It echoed goals outlined in the White House’s “Blueprint for an AI Bill of Rights,” a framework the Office of Science and Technology Policy released late last year.
Source: wpde.com
