A report issued by investment bank Goldman Sachs stated that application of the artificial intelligence (AI) could replace the equivalent of 300 million full-time jobs during the coming period.
According to the report, artificial intelligence technologies will carry out the tasks of a quarter of jobs in the United States and Europe, but this may also mean new jobs and a recovery in productivity.
Ultimately, this could increase the total annual value of goods and services produced globally by 7 percent.
The report says that artificial intelligence, which can create content that is broadly similar to what humans produce, represents a "significant advance".
The government is keen to encourage investment in artificial intelligence in Britain, which it says will "ultimately increase productivity across the economy", and has tried to reassure the public about its impact.
The report indicates that the impact of artificial intelligence will differ according to the different sectors in which it operates, as it can be used to accomplish 46 percent of administrative tasks and 44 percent of legal professions, but these percentages will decline in the construction sector to only 6 percent and 4 percent in the maintenance sector. "
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