April 28, 2023 /Economy/ — Generative AI is a type of artificial intelligence that is capable of generating text, images, and other content that is indistinguishable from human-created output. This technology has the potential to automate a wide range of tasks that are currently performed by humans, including customer service, data entry, and even creative writing.

The Goldman Sachs report predicts that generative AI could automate 18% of work globally, with the effects felt most deeply in advanced economies. This is because advanced economies tend to have a higher concentration of white-collar jobs, which are more susceptible to automation. Continue reading →