NEW YORK–A new report suggests generative artificial intelligence tools such as Open AI’s ChatGPT will affect jobs across a host of industries, but in particular on white-collar workers with high-paying jobs in industries such banking and tech.
The new report from the Burning Glass Institute, a nonprofit research center, and SHRM, formerly the Society for Human Resource Management, “stops short of saying the technology will do away with large numbers of jobs. But it makes clear that workers need to better prepare for a future in which A.I. could play a significant role in many workplaces that until now have been largely untouched by technological disruption,” according to the New York Times.
The analysis added, “For people in tech, it means they may be building their A.I. replacements.”
“There’s no question the workers who will be impacted most are those with college degrees, and those are the people who always thought they were safe,” Matt Sigelman, president of the Burning Glass Institute, told the Times.
Estimates Made
The report notes the researchers estimated the share of payroll spending that goes to workers employed in the 200 occupations most likely to be affected by generative AI, many of which are held by affluent college graduates, including business analysts, marketing managers, software developers, database administrators, project managers and lawyers.
The Times pointed out that companies in finance, including Goldman Sachs, JPMorgan Chase and Morgan Stanley, have some of the highest percentages of their payrolls likely to be disrupted by generative AI.
Could Lead to Big Savings
“Getting AI to do human work could result in big savings for those companies,” the Times reported. “The research estimates that banks and some tech companies spend 60 to 80% of their payrolls, or more, on workers in occupations most likely to be affected by the new technology.”
The report forecasts that retail, restaurant and transportation industries are least likely to be affected by generative AI.
The Ideal Valentine’s Day Gift for that Someone Special—Including You
The biggest, best and freshest news reporting in credit unions remains free! Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more. So stop paying those bank-fee-like subscription prices from other so-called “news” publications!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?