Thursday, 30 March 2023 02:43

A new Report has very bad news for white collar workers

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This year has seen wave after wave of job cuts at companies that once seemed the most stable places to work, like Google, Facebook, Amazon, and Disney.

Many people feel nervous about the stability of their own jobs -- and after the thousands of economy-related layoffs were announced, another threat to employment seems to have reared up.

According to a new report from investment bank Goldman Sachs, as many as 300 million jobs worldwide could be replaced by AI.

"If generative artificial intelligence delivers on its promised capabilities, the labor market could face significant disruption,” the report reads.

But before you panic, take note that not every field is in the line of fire. 

Blue-collar jobs that require physical labor will not be affected, with only 1% of the building and ground cleaning and maintenance sector affected. 

If you work in repair or installation, you're also at low risk, with only 4% of work being potentially affected. Construction workers come in third place, with a 6% possibility of being affected.

But if you're sitting in front of a computer for work, you may have something to worry about. Office and administrative support jobs are at the highest risk at 46%. Legal work follows at 44%, with architecture and engineering at 37%.

The threat also varies by country, with the bank estimating that Hong Kong, Israel, Japan, Sweden and the U.S. will be the five most affected areas.

"Of U.S. workers expected to be affected, for instance, 25% to 50% of their workload can be replaced,” the report says.


The Street

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