It’s predicted that generative artificial intelligence (AI) equivalent to ‘ChatGPT’ will create as much as 4.4 trillion dollars (about 5600 trillion won) in value in the worldwide economy every 12 months.

The Latest York Times reported on the 14th (local time) that the consulting firm McKinsey Global Institute published a 68-page report on the economic potential of generative AI, which surveyed 850 jobs and a couple of,100 detailed job activities in 47 countries. .

In line with the report, generative AI will increase the dimensions of the worldwide economy from $2.6 trillion to $4.4 trillion annually. As of 2021, it’s an amount that exceeds the UK’s GDP of $ 3.1 trillion.

It also predicts that task automation through generative AI will save 60-70% of labor time, and that every one human tasks will likely be automated between 2030 and 2060. Particularly, it’s analyzed that the impact of generative AI will likely be great in fields that require high education and high wages, equivalent to customer management, sales, software engineering, and research and development.

The report previously predicted a period between 2035 and 2075 when half of human tasks will likely be automated, but the facility of generative AI tools which have exploded since last 12 months has accelerated the forecast.

On this regard, the report’s creator, Larreina Lee, senior partner at McKinsey, said, “generative AI that may summarize and edit content is giving highly expert staff ‘superpowers’.”

The report is not rosy concerning the impact of generative AI. McKinsey acknowledged the risks related to adopting generative AI and emphasized its use responsibly, pointing to a spread of concerns raised around mental property, reliability, privacy and security.

It also warned that the technology could have a big impact on the workforce, and that the impact on specific groups and communities could disproportionately result in quite a few negative outcomes.

Reporter Park Chan cpark@aitimes.com