• AI could replace equivalent of 300 million jobs   

Excerpt from BBC

Artificial intelligence (AI) could replace the equivalent of 300 million full-time jobs, a report by investment bank Goldman Sachs says.

It could replace a quarter of work tasks in the US and Europe but may also mean new jobs and a productivity boom.

And it could eventually increase the total annual value of goods and services produced globally by 7%.

Generative AI, able to create content indistinguishable from human work, is "a major advancement", the report says.

Employment prospects

The government is keen to promote investment in AI in the UK, which it says will "ultimately drive productivity across the economy", and has tried to reassure the public about its impact.

"We want to make sure that AI is complementing the way we work in the UK, not disrupting it - making our jobs better, rather than taking them away," Technology Secretary Michelle Donelan told the Sun.

The report notes AI's impact will vary across different sectors - 46% of tasks in administrative and 44% in legal professions could be automated but only 6% in construction 4% in maintenance, it says.

BBC News has previously reported some artists' concerns AI image generators could harm their employment prospects.

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