According to Goldman Sachs research, breakthroughs in generative artificial intelligence have the potential to significantly impact the global economy, driving a 7% increase in global GDP and boosting productivity growth by 1.5 percentage points over a 10-year period. However, these advances may also lead to the automation of around 300 million full-time jobs worldwide.
Key Takeaways
- 💼 Generative AI could increase global GDP by almost $7 trillion, representing a 7% growth over a 10-year period.
- 🤖 Around 300 million full-time jobs worldwide could be exposed to automation as a result of AI advancements.
- 📊 Roughly two-thirds of U.S. occupations are exposed to some level of automation by AI.
- 🔄 Most jobs and industries are more likely to be complemented than substituted by AI, as not all automated work will lead to layoffs.
- 🔧 Historically, jobs displaced by automation have been offset by the creation of new jobs, with technology-driven innovations contributing to the majority of long-run employment growth.
- 💼 Generative AI is expected to have far-reaching implications for the enterprise software, healthcare, and financial services industries.
- 💰 The total addressable market for generative AI software is estimated to be $150
