Goldman Sachs analyst Joseph Briggs recently contended that artificial intelligence could potentially automate tasks that account for 25% of all work hours in the US and 6% to 7% of all jobs.
He notes that the prospect of job losses on such a scale has led to fears that AI will replace humans in the same way that machines replaced horses, although the impact on unemployment will depend on whether “human labour maintains a competitive advantage in certain aspects of production”.
“AI can potentially automate tasks that account for 25% of all work hours in the US. This significant exposure has raised concerns around widespread and permanent job loss, sparking fears of a ‘job apocalypse’ or ‘humans going the way of horses’”, Briggs said.
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