Goldman Sachs Economists Predicts AI Could Affects 300 Million Jobs

300 million full-time jobs globally could be impacted by AI, according to a new report by Goldman Sachs economists. They predict that 18% of work could be computerized, with white-collar workers more at risk than manual laborers.

Administrative workers and lawyers are expected to be the most affected by the AI revolution, compared to the “little effect” seen on physically demanding or outdoor occupations like construction and repair work.

Approximately two-thirds of current jobs in the US and Europe “are exposed to some degree of AI automation,” and up to a quarter of all work could be done by AI completely, the bank estimates.

While widespread adoption of AI could ultimately increase labor productivity and boost global GDP by 7% annually over a 10-year period, the impact on the labor market is likely to be significant. Most jobs and industries are only partially exposed to automation, however.

"Although the impact of AI on the labor market is likely to be significant, most jobs and industries are only partially exposed to automation and are thus more likely to be complemented rather than substituted by AI," the economists added.