Consulting firm McKinsey says artificial intelligence (AI) could take over 60-70% of employee working time by 2045.
Previously, the company said that AI could automate half of human jobs except high-level management and knowledge positions.
Generative AI Will Transform High-Level Labor Practices
The 50% prediction increased with recent rapid AI natural language processing advances. Now, McKinsey says that AI can take over between 60 and 70% of jobs between 2030 and 2060.
The company said firms would need to invest in employee upskilling while reaping the benefits of improved productivity AI brings.
Generative AI and other technologies could increase annual corporate growth across 16 business functions to between $2.6 trillion and $4.4 trillion.
Generative AI trumps traditional machine learning through an advanced understanding of natural human language. Its interpretative ability allows it to produce outputs from input prompts resembling natural speech.
McKinsey says this ability will revolutionize teams’ access to internal data for rapid decision-making.
Knowledge workers can also use AI to distill mass data into conclusions that can expedite their creative output and redirect energy to higher-value tasks.
Google’s improved Bard, for example, can create Python code from natural language prompts. OpenAI’s GPT-4 language model was recently integrated with GitHub Copilot to help developers request AI-generated code snippets using natural language requests.
Policymakers Must Act Quickly to Address Downside
McKinsey’s report suggests adopting artificial intelligence will pressure stakeholders to address risks quickly.
Lawyers are already grappling with AI companies using intellectual property to train large language models (LLMs) like GPT-4. Should firms like OpenAI be paying to use this data?
Also, is the work generative AI creates from its training copyrighted? Current US law suggests not, but it is still early days.
The tendency of LLMs to confidently but incorrectly answer prompts is an immediate challenge. Will companies need to protect minors from accessing harmful responses from ChatGPT?
Click here for our Learn review of ChatGPT.
These and other questions will be part of urgent discussions between governments in developed nations.
British Prime Minister Rishi Sunak and UK Labour spokesperson Lucy Powell want to encase AI in ethical and beneficial frameworks characteristic of particle physics and nuclear power.
The European Parliament passed a draft AI Act on Wednesday to dull the impact of AI’s riskiest applications, like facial recognition.
It also compels AI tools to disclose more about the data they were trained on. A final draft of the law will be passed later this year.
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
