A screen shows the company’s logo for the Goldman Sachs on the floor at the New York Stock Exchange (NYSE) on New York City, US, May 7, 2025.
Brendon McDermid | Roots
Changes in American Labor market Liberated from the arrival of AI Goldman Sachs Economist.
Most of the companies have so far deployed artificial intelligence in production cases, which means that the overall job market has not been greatly affected by AI, Joseph brigsSenior global economist of Goldman’s Research Division, in a podcast Episode First shared with CNBC.
Brigs said that there are already signs of keeping a work in the technology sector, there is the most difficult, Brigs, killing young employees.
“If you look at the employment trends of the technical sector, Aired Tuesday
“In the last three years, we have actually seen a pullback in tech hiring, which has inspired it to underline its tendency,” he said.
Since November 2022 release, OpeniChat has promoted the rise of the world’s most valuable company, NvidiaAnd forced the entire industries to struggle with its implications. The generative AI models are quick to handle many regular tasks, and some experts say they are already equal to humans. software EngineerFor example.
This has expressed concern that automation companies will enrich more productive and rich shareholders, affecting job market health in the coming years.
Technology Officer has recently become more clear about the impact of AI on employees. Companies Alphabet And Microsoft has said that AI is roughly producing 30% Code on some projects, and Sales force CEO Mark Benefic Said In June, AI works 50% in its company.
Young technical activists, whose jobs are the easiest to automated, according to Brigs, are the first solid signs of displacement.
He said that the unemployment rate among technical staff between 20 and 30 years increased by 3 percent points from the beginning of this year. The Brigs recently co-written a report called “Determining the Risk of AI-related job displacement”, which refers to the labor market data from IPUM and Goldman Sachs Global Investment Research.
“This is a huge growth as much as we have seen more widely in the technical field [and] For other young workers we have seen as much as we have seen, ”he said.
‘Labor Replacement’
Tech CEO’s approach has been dispatched to hire junior employees as they start deploying AI, George LeeFormer technology banker who is the co-head of the Goldman Sachs Global Institute.
“How do I start to streamline my enterprise so that I can be more flexible and more adaptive … yet without damaging our competitive edge?” Lee said in podcast Episode“For this period of time, young employees are slightly lowering his casualties.”
Over time, according to the Brigs, AI automation in the baseline scenario may lose about 6% to 7% of all workers.
Brigs said that the infection could be more painful, for both workers and the US economy, if adoption between companies is faster than a decade -long period, Brigs said.
He said that either technological progress or economic recession may be caused by which encourages companies to cut cost, they said.
If AI researchers receive AGI, or Artificial General Intelligence, then who is equal to a person’s ability to learning and optimize in the domain, rather than that being narrowly deployed, the impact on workers will be more darker, the Goldman economist said.
“Our analysis is not a factor in the ability to emergence AGI,” Brigs said. “It is also difficult to start thinking about the impact on the labor market, but I will guess there that probably more space for labor replacement and more disruptive effects in that world.”
