Leading multinational investment bank and financial services firm Goldman Sachs has serious concerns about the impact of artificial intelligence (AI) automation on the job market.

In a recently published research paper Goldman Sachs Sachs Group Inc. Analysts said: “Of the exposed occupations, most have a significant – but partial – portion of their workload (25-50%) that can be replaced.”

Do not miss: The startup behind the automated future of the fast food industry

How many jobs are at risk?

The answer depends on who you ask, the industry, and the geographic location of the companies in question.

The Goldman Sachs report notes that as many as 300 million jobs worldwide could be affected in some way.

In a way, AI technology also has the potential to boost labor productivity growth and global GDP. ChatGPT is already becoming an everyday part of almost every major company on the planet. And startups like it RAD AI has created the world’s first AI marketing platform designed to understand emotions to increase campaign efficiency. But these solutions primarily increase efficiency and do not necessarily replace jobs.

In some cases, however, it could reduce the need for freelance workers in these markets. Rather, companies would be more likely to look for AI-based solutions.

To keep up to date with top startup news and investments, Sign up for Benzinga’s Startup Investing & Equity Crowdfunding Newsletter

Which jobs are – and which are not – at risk?

Some industries and professions are more affected by AI automation than others. Occupations that require physical labor, such as manual workers, are less likely to be affected.

The report states that clerical and administrative jobs in the United States have the highest proportion of tasks that can be automated at 46%. It follows:

• 44% for the legal industry
• 37% for architecture and engineering
• 36% for the life, natural and social sciences sector
• 35% for companies and…