A new study conducted by Cognizant Impact and Oxford Economics warns that the rise of generative AI technologies could have a staggering impact on the U.S. economy, reaching a whopping $1 trillion over the next decade. While this presents promising opportunities in terms of operational efficiency, revenue generation, and business innovation, it also comes at a significant cost for workers.
The study reveals that approximately 90% of jobs in the U.S. could be disrupted by the proliferation of generative AI technology. This indicates a rapid shift in the trajectory of the economy, with potential consequences for the workforce. Adrian Cooper, the CEO of Oxford Economics, emphasizes the need for leaders to swiftly adapt and harness the potential of this technology.
By analyzing 18,000 tasks that currently drive the U.S. economy, the economic model developed for the study shows that generative AI has the potential to enhance U.S. productivity by 1.7% to 3.5%. It could also contribute between $477 billion and $1 trillion in annual value to the country’s GDP over the next decade, depending on the rate of adoption by businesses.
Unfortunately, these economic benefits are not without a downside. The study concludes that approximately 52% of jobs face significant changes as a result of generative AI technologies. Moreover, about 9% of the current U.S. workforce may be displaced, potentially leading to unemployment for 1% of workers based on historical economic shifts.
These findings highlight a pressing need for proactive measures to mitigate the negative impact on workers. Efforts should focus on reskilling and upskilling the workforce to adapt to the changing technological landscape. Additionally, policymakers and business leaders must collaborate to create new employment opportunities and support affected workers during this transition period.
As generative AI makes its way into various industries, the benefits it brings to the U.S. economy should be celebrated. However, it is crucial that we prioritize the well-being and future prospects of the workforce to ensure a just and inclusive economy in the era of AI.
The source of the article is from the blog radiohotmusic.it