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Upwork: Impact of AI: Difference between revisions
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== Impact of AI on Labor Market == | == Projected Impact of AI on Labor Market == | ||
AI is expected to replace certain jobs. According to Accenture report, 40% of working hours across industries will be impacted by Large Language Models (LLMs). Banking, Insurance and software jobs will be affected the most. Their potential for automation is 54%, 48%, and 36%, respectively. Their potential for augmentation is 12%, 14% and 21%, respectively<ref>https://www.accenture.com/content/dam/accenture/final/accenture-com/document/Accenture-A-New-Era-of-Generative-AI-for-Everyone.pdf</ref>. | AI is expected to replace certain jobs. According to Accenture report, 40% of working hours across industries will be impacted by Large Language Models (LLMs). Banking, Insurance and software jobs will be affected the most. Their potential for automation is 54%, 48%, and 36%, respectively. Their potential for augmentation is 12%, 14% and 21%, respectively<ref>https://www.accenture.com/content/dam/accenture/final/accenture-com/document/Accenture-A-New-Era-of-Generative-AI-for-Everyone.pdf</ref>. | ||
Another report by Goldman Sachs indicate that roughly two thirds of occupations in US and EU could be partially automated by AI. Of those occupations that are exposed, roughly a quarter to as much as half of their workload could be replaced. However, jobs displaced by automation could be replaced by creation of new jobs<ref>https://www.goldmansachs.com/insights/pages/generative-ai-could-raise-global-gdp-by-7-percent.html</ref>. | Another report by Goldman Sachs indicate that roughly two thirds of occupations in US and EU could be partially automated by AI. Of those occupations that are exposed, roughly a quarter to as much as half of their workload could be replaced. However, jobs displaced by automation could be replaced by creation of new jobs<ref>https://www.goldmansachs.com/insights/pages/generative-ai-could-raise-global-gdp-by-7-percent.html</ref>. | ||
== Has there been a change in Upwork's website traffic following the surge in AI? == | |||
Analysis of Upwork's website traffic in the past three months on SimalarWeb reveals that Upwork is moving in the right direction. However its website traffic declined 6.44% month-over-month in February before growing 9.25% month-over-month in March<ref>https://www.similarweb.com/website/upwork.com/#traffic</ref>. | |||
[[File:Upwork website traffic.png|thumb|747x747px|Source: Similarweb]] | |||
== References == | |||