Artificial intelligence (AI) could replace the equivalent of 300 million full-time jobs, a report by investment bank Goldman Sachs says. It could replace a quarter of work tasks in the US and Europe but may also mean new jobs and a productivity boom. And it could eventually increase the total annual value of goods and services produced globally by 7%. The report also predicts two-thirds of jobs in the U.S. and Europe “are exposed to some degree of AI automation,” and around a quarter of all jobs could be performed by AI entirely.

What jobs are most likely to be automated?

1. Customer service representative

Most human customer service interactions are no longer done by phone with human employees manning the lines. Most of the time, the queries and problems of customers are repetitive. Answering these queries does not require high emotional or social intelligence. Therefore, AI can be used to provide automated responses to frequently asked questions.

2. Receptionists

The majority of companies across the world are now using robots at their reception. Even the calls are being managed by AI now. For example, AimeReception can see, listen, understand, and talk with guests and customers.

3. Accountants/Bookkeepers 

Many companies are now using automation and ai for their bookkeeping practices. AI-powered bookkeeping services provide an efficient accounting system and flexibility and security, considering that they are available as cloud-based services. Using ai algorithms, AI will ensure the data is collected, stored, and analyzed correctly. Using an AI accounting service is significantly less costly than paying an employee’s salary to do the same job.

4. Salespeople 

Gone are the days when corporations required salespeople for advertising and retail activities. Advertising has shifted towards web and social media landscapes. The built-in target marketing capabilities in social media allow advertisers to create custom content for different types of audiences.

5. Research and analysis

The fields of data analysis and research are areas that already implement the use of artificial intelligence as a method of streamlining the process and identifying new data without human assistance. The processing power of modern computers allows for the efficient sorting, extrapolation and analysis of data. As artificial intelligence continues to improve, there may not be a need for humans to play a role in data analysis and research.

6. Warehouse work

Online sales is a steadily growing industry and comes with an increasing need for processes and automated systems that efficiently get orders onto trucks for delivery. One area of focus for streamlining the process has been the use of automation. Basic automation and artificial implementation in a warehouse allow for easy access to computerized systems to locate packages and direct staff, and future AI may even perform mechanized retrieval and loading to increase shipping capacities.

7. Insurance underwriting

When making assessments on the viability of insurance applicants, the most important work is often in analyzing the data available and applying it within a set of formulas or structures. Automation can easily complete these tasks and is continually adapting to perform more complicated duties, which may reduce how many underwriters a company requires.

8. Retail

Self-checkout stations at stores are an example of automation in the retail sphere and have gained prominence in grocery stores and big-box outlets. When a company makes use of self-checkout areas, it results from a cost-benefit analysis. Although allowing customers to scan their own items can increase the instances of theft, the company saves more money by reducing the need for employees working registers.