AI job loss fears overstated, say Goldman Sachs & OpenAI

Goldman Sachs and OpenAI leaders say AI hasn't caused mass job losses as feared. While some sectors are affected, new jobs are emerging and human skills remain essential.

Goldman Sachs CEO David Solomon has downplayed concerns that artificial intelligence will lead to widespread job losses, stating that such fears are exaggerated. He believes the U.S. economy will continue to create new jobs as technology advances. Goldman Sachs estimates that AI and automation could affect about 25% of current work hours over the next decade, especially in white-collar sectors. However, the firm notes that new roles are emerging, such as over 200,000 construction jobs created by data center development since 2022. OpenAI CEO Sam Altman also addressed earlier predictions about AI-driven job losses, particularly among entry-level white-collar workers. He admitted these forecasts have not materialized and expressed relief, emphasizing the ongoing importance of human interaction in the workplace. Altman acknowledged that previous warnings contributed to public anxiety but now sees that the anticipated job losses have not occurred. Both leaders agree that while AI is transforming the nature of work, the expected widespread elimination of jobs has not happened. They also note that AI has yet to deliver significant productivity or revenue gains at scale.