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AI to cost the world two-thirds of jobs, Goldman Sachs highlights hardest hit sectors

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Administrative and legal sectors are expected to be the most impacted, with 46% of administrative jobs and 44% of legal jobs being substitutable by AI. In contrast, physically-intensive professions such as construction and maintenance have a lower exposure of 6% and 4%, respectively, as reported by CNBCTV18. Meanwhile, AI is also seen as a tool to enhance economic growth. According to Goldman Sachs, AI could potentially increase annual global GDP by 7% over a 10-year period. Significant labor cost savings, new job creation, and higher productivity for non-displaced workers are seen as the areas that will boost growth. The research also shows that AI will impact roughly half of the activities people do across all sectors, and nearly all occupations will be affected by automation.