Final answer:
Generative AI is expected to substantially change businesses by increasing global GDP by 7%, but also poses risks of labor market disruption. Ethical issues, corporate responsibility, and the development of AI guided by human-centered values and regulations are important for a responsible AI integration into society.
Step-by-step explanation:
Generative AI is poised to significantly transform business landscapes by affecting various sectors with both growth and disruption. Goldman Sachs predicts that the implementation of AI technologies could potentially increase global GDP by 7% over the next decade. This surge is attributed to AI's capability to enhance productivity, foster innovation, and create new products and services.
However, there is also a concern that AI could disrupt the labor market, possibly affecting up to 300 million jobs, due to automation and advanced efficiencies. Additionally, issues surrounding ethics and corporate responsibility come to the forefront, as AI's growth necessitates the development of codes of conduct and ethical guidelines to mitigate risks such as biases, potential misuse of data, and threats to privacy. *
While AI promises improvements and efficiency across industries like autonomous vehicles and personalized virtual assistance, it equally presents challenges in governance and control. Experts urge that AI should be developed and used safely, sustainably, and responsibly, advocating for the regulation and human-centered approach to the technology. The essence is to ensure that AI aligns with human values and does not exacerbate global issues such as unemployment and inequality. Ultimately, generative AI stands at the crossroads of being a catalyst for business growth and a precipitator of societal challenges.