AI is going to eliminate way more jobs than anyone realizes

Abstraction: Generative AI's massive disruptive impact on global labor markets and productivity

Key points:

• Goldman Sachs: 300 million jobs worldwide could be disrupted by AI; McKinsey: 12 million Americans change fields by 2030
• World Economic Forum estimates 83 million jobs lost and 69 million created in five years, net loss of 14 million
• McKinsey revised median estimate for 50% task automation from 2055 to 2045 — a decade earlier than prior estimate
• Generative AI primarily threatens highly-skilled knowledge workers (est. 644-997 million globally), unlike past automation
• Productivity studies: call-center agents 14% more productive, software developers 56% faster, document writing 40% faster
• Goldman Sachs estimates generative AI could raise US annual labor-productivity growth by ~1.5 percentage points over 10 years

Connections: Goldman Sachs · Mckinsey · AI Impact On Labor · Automation · Productivity

Source: https://www.businessinsider.com/ai-radically-reshape-job-market-global-economy-employee-labor-innovation-2023-8