Goldman Sachs Says that 300 Million Jobs Can Be Replaced by AI Automation

IBL News | New York

AI has the potential to automate 25% of the entire labor market, which translates to 300 million jobs, according to a research report by Goldman Sachs.

In a research report, the investment bank said that AI could automate 46% of tasks in administrative jobs, 44% of legal jobs, and 37% of architecture and engineering professions.

AI would be the least threatening to labor-intensive careers like construction (6%), installation and repair (4%), and maintenance (1%).

The study concludes that 18% of the global workforce could be automated, while in countries like the U.S., U.K., Japan, and Hong Kong, it’d be 28% of the workforce.

However, Goldman Sachs anticipates that displaced workers will become reemployed in jobs that emerge as a direct result of widespread AI adoption.

Last month, the U.S. Chamber of Commerce called for intense AI regulation at the federal level to ensure job security, national security, and economic stability.