“Generative artificial intelligence” is expected to add up to $4.4 trillion annually to the global economy, according to a report by the McKinsey Global Institute, one of the more rosy predictions about the economic impact of the rapidly evolving technology.

Generative AI that includes chatbots such as ChatGPT can potentially boost productivity by saving 60 to 70 percent of workers’ time by automating their work, according to a 68-page report released early Wednesday. Half of all work will be automated between 2030 and 2060, the report says.

McKinsey previously predicted that artificial intelligence would automate half of all work between 2035 and 2075, but the power of generative AI tools — which exploded onto the tech scene late last year — accelerated the company’s prediction.

“Generative AI has the potential to change the anatomy of work and augment the capabilities of individual workers by automating some of their individual activities,” the report said.

McKinsey’s report is one of the few so far to quantify the long-term impact of generative artificial intelligence on the economy. The news comes at a time when Silicon Valley has caught fire with technology companies and venture capitalists for generative AI tools like ChatGPT and Google’s Bard. invest billions of dollars in technology.

The tools — some of which can also create images and videos and hold conversations — have sparked debate about how they will affect jobs and the global economy. Some experts have predicted that AI will displace people from their jobs, while others argue that these tools can increase individual productivity.

Last week, Goldman Sachs issued a report warning that artificial intelligence could lead to job disruption and that some companies would benefit more from the technology than others. In April, a Stanford researcher and researchers at the Massachusetts Institute of Technology published a study showing that generative artificial intelligence could increase the productivity of inexperienced call center operators by 35 percent.

Any conclusions about the effects of the technology may be premature. David Autor, an economics professor at MIT, warned that generative AI “will not be as miraculous as people claim.”

“We’re really, really early on,” he added.

Economic studies of generative artificial intelligence usually do not take into account other risks of the technology, such as whether it could spread misinformation and possibly escape the realm of human control.

The vast majority of the economic value of generative artificial intelligence will most likely come from helping workers automate tasks in customer operations, sales, software engineering and research and development, according to a McKinsey report. Generative AI can create “superpowers” for highly skilled workers, said Lareina Yee, a McKinsey partner and author of the report, because the technology can summarize and edit content.

“The most fundamental change we’re going to see is change for people, and that’s going to require much more innovation and leadership than technology,” she said.

The report also outlined challenges that industry leaders and regulators would have to deal with AI, including concerns that content generated by the tools could be misleading and inaccurate.

Ms. Yee acknowledged that the report anticipated the effects of artificial intelligence, but that “if you could capture even a third” of the technology’s potential, “it’s pretty remarkable in the next five to 10 years.”

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