According to Forrester Research’s 2023 Generative AI Jobs Impact Forecast, the technology will influence 4.5 times more jobs than it replaces. The technology will also make up nearly 30% of the jobs that are lost to automation by 2030.

“We forecast that generative AI will replace 90,000 jobs in 2023, growing to 2.4 million by 2030,” the study said. While 2.4 million jobs replaced by genAI sounds high, Forrester notes that automation and AI overall will replace just 4.9% of US jobs by 2030. And job losses over the next two years will remain modest until questions about intellectual property rights, copyright issues, plagiarism, model refresh rates, model bias, ethics, and model response reliability are resolved, the research firm said.

The latest report from the International Monetary Fund (IMF) on the impact of genAI reads like a “best of times, worst of times” tale. The study found as much as 60% of jobs will be exposed to the effects of AI. About half of the jobs affected by AI and genAI could benefit from enhanced productivity. For the other 50%, however, genAI tools could be used to execute tasks now done by humans, which could lower labor demand, lead to lower wages, and reduce hiring.