Generative AI

United

Force

<a href="https://bitcoinworld.co.in/generative-ai-a-complementary-force-in-the-workforce-says-ilo-report/" title="Generative AI: A Complementary Force in the Workforce, Says ILO Report" rel="noopener noreferrer nofollow"></a> 
Emerging insights from a study conducted by the International Labour Organization (ILO), a branch of the United Nations, suggest that the rise of Generative AI will likely enrich existing job roles rather than replace them entirely. The research, published on August 21, delves into the dynamic interplay between Generative AI and employment prospects, unveiling intriguing findings about the future of work in the digital age. 
One of the study’s highlights unveils that while Generative AI could potentially automate certain clerical tasks, only a fraction of positions could see substantial automation. Notably, 24% of clerical duties are identified as highly susceptible to automation, with 58% holding a medium-level exposure. Roles such as typists, travel consultants, bank tellers, contact center clerks, bookkeeping and data entry clerks, hotel receptionists, and secretaries are considered higher risk. 
However, the report emphasizes that such automation disparities could carry gender implications. Women’s higher representation in administrative roles positions them to face more significant exposure to automation-related impacts. The report states, “3.7 percent of all female employment in the world is in jobs that are potentially automatable with generative AI technology, compared with only 1.4 percent of male employment.” 
Geographical nuances also shape the AI automation landscape. The study reveals that the impact of AI automation is more likely to be felt by employees in high-income countries (5.5%) compared to their counterparts in low-income nations (0.4%). 
The ILO’s research closely examines chatbot applications’ influence, including OpenAI’s ChatGPT and Google’s Bard. The potential impact of Generative AI isn’t confined solely to administrative tasks; customer service and coordination-related studies, data management and record keeping, information processing, language services, and charges tied to inquiry responses exhibit a high potential for automation 
The cryptocurrency industry provides an illustrative example of AI’s influence on customer service roles. Amid the crypto winter of 2022, industry giants like Binance, Coinbase, and Kraken underwent significant workforce reductions, including in customer service departments. The ILO’s findings resonate with this scenario, shedding light on the susceptibility of certain job segments to AI-driven automation. 
Amidst these developments, the report maintains a balanced perspective on the overall impact of AI on the workforce. The ILO’s conclusion suggests that the influence of AI on the broader force is neither overtly positive nor negative at present; instead, its ramifications hinge on effective management and regulation of Generative AI technologies. The report underscores the risk of disparate benefits and costs across countries and market participants without adequate policies. 
Interestingly, the ILO’s outlook contrasts with the sentiment among everyday Americans. A recent survey unveiled that 62% of the U.S. population anticipates a significant AI impact on the workplace over the coming decades, contributing to heightened concerns about the future trajectory of their careers. 
As Generative AI continues to evolve and integrate into various domains, its nuanced impact on the labor landscape becomes increasingly crucial to analyze, guided by a balance between innovation and workforce well-being. 
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Generative AI: A Complementary Force in the Workforce, Says ILO Report

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