Investment bank forecasts LLMs could put 30M jobs at risk

, in partnership with Microsoft. Impressively aping human language and even producing working computer code, LLMs are at the centre of a media frenzy right now.

Impressive though they often are, any notion that they think or understand what they are saying is false, given their reliance on a statistical analysis of a large corpus of text. Nonetheless, Goldman Sachs sees a significant disruption to the global jobs market, with around 300 million full-time equivalent workers in large global economies at risk, according to economists Joseph Briggs and Devesh Kodnani, who wrote the paper.

On the upside, investment in LLMs in the workplace is set to create a much-needed fillip for productivity. Over 10 years, generative AI could produce a $7 trillion boost to global GDP. To get the benefits though, organizations need to invest. The Goldman report said that, assuming it followed similar trends to software investment in the 1990s, US spending on workplace LLMs and the surrounding tools could hit 1 percent of US GDP by 2030, amounting to about $230 billion, based on current figures.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global population could fall to six billion with 'unprecedented investment' in tackling poverty, researchers sayThe forecasts in the report are in contrast to UN predictions which show the population reaching 9.7 billion in 2050 and peaking at 10.4 billion in the 2080s. Best thing that could happen. Then halve again. Maybe its about time we [redacted] them Overpopulation has to be controlled if people won’t do it nature will
Source: SkyNews - 🏆 35. / 67 Read more »

Nottingham: Two people arrested in Ponzi investment scam probeA 30-year-old woman and 58-year-old man were held on suspicion of fraud offences.
Source: bbcemt - 🏆 120. / 51 Read more »