The Organization for Economic Co-operation and Development (OECD) has issued a warning that the widespread adoption of artificial intelligence (AI) could put over a quarter of jobs at risk in its 38-member countries. In its 2023 Employment Outlook, the Paris-based organization revealed that approximately 27% of the labor force in OECD countries could potentially be replaced by AI technology. The report further noted that Eastern European states are the most vulnerable to automation.
While there are currently no clear indications of significant disruption to the labor market due to AI, the OECD emphasized that many jobs are already at risk as the AI revolution is still in its early stages. The organization categorized positions that could be displaced by automation as those that require at least 25 out of the 100 skills and abilities that AI is capable of substituting.
Mathias Cormann, Secretary General of the OECD, highlighted the importance of policy actions in managing the impact of AI on the workforce. He stated, “How AI will ultimately impact workers in the workplace and whether the benefits will outweigh the risks will depend on the policy actions we take.” Cormann emphasized the need for governments to support workers in preparing for the changes and benefiting from the opportunities that AI will bring.
In March, Goldman Sachs predicted that generative AI, such as ChatGPT, has the potential to replace up to 300 million full-time jobs worldwide. The investment bank argued that this technology represents a major advancement with significant macroeconomic effects. According to Goldman Sachs’ estimates, around two-thirds of jobs in the United States and Europe are exposed to some level of AI automation, and generative AI could be used as a substitute for a quarter of the current jobs.
The OECD’s warning comes as governments and organizations globally grapple with the challenges and opportunities presented by AI. The potential loss of jobs due to automation has been a growing concern, with debates surrounding the need for retraining and reskilling programs to support displaced workers. Efforts to strike a balance between harnessing AI’s potential benefits and mitigating its negative impact on employment remain ongoing.
As the AI revolution continues to unfold, it is crucial for policymakers, businesses, and societies to adapt and respond effectively. While the widespread adoption of AI may pose risks to certain jobs, it also holds the potential to create new opportunities and enhance productivity. Therefore, proactive measures must be taken to ensure that workers are equipped with the skills necessary to navigate the changing job market and to harness the benefits that AI technology can offer.
Overall, the OECD report serves as a reminder of the transformative power of AI and the need for comprehensive strategies to address its impact on employment. As governments, businesses, and individuals prepare for the future, it is essential to strike a balance between embracing the advantages of AI while also protecting and supporting the workforce in this era of technological advancement.
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