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Goldman Sachs CEO Dismisses AI "Job Doomsday Theory": AI Will Boost Productivity and Create New Jobs

BlockBeats News, May 26th – Goldman Sachs CEO Solomon stated in an op-ed in The New York Times that concerns about AI triggering a "large-scale unemployment crisis" have been exaggerated, and the U.S. economy will continue to create more new jobs through technological transformation, similar to the past industrial revolution and the internet era. Solomon stated that Goldman Sachs expects AI or automation to affect about 25% of existing job tasks over the next 10 years, with white-collar industries such as banking, accounting, and law being significantly impacted. Stanford research has shown a 16% decline in entry-level job postings in highly automated sectors such as software engineering and customer service.

However, he pointed out that AI is also creating new job demands. For example, since 2022, the construction of data centers in the U.S. has brought more than 200,000 construction jobs. Goldman Sachs itself may reduce some compliance and account opening positions but will increase recruitment for customer-facing roles in banking, trading, and asset management. Solomon believes that AI is more likely to enhance productivity rather than directly eliminate 25% of jobs. He stated, "Technological progress and cultural change are not synchronous; being replaceable does not necessarily mean that one will be replaced." He also called for governments and businesses to jointly promote large-scale vocational training to address the labor market structural changes brought about by AI.

Source: BlockBeats

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