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

BlockBeats News, May 26. In an article in The New York Times, Goldman Sachs CEO Solomon Solomon expressed 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 in the next 10 years, with white-collar industries such as banking, accounting, and law facing significant impacts. Stanford research has shown that entry-level recruitment for highly automated positions such as software engineering and customer service has decreased by 16% in low-automation industries.

However, he pointed out that AI is also creating new job demands. For example, since 2022, data center construction in the United States has brought more than 200,000 construction jobs. Goldman Sachs itself may reduce some compliance and account opening positions but will increase recruitment for client-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, and being able to be replaced does not necessarily mean that one will definitely be replaced." He also called for governments and businesses to jointly promote large-scale occupational retraining to address the labor structural changes brought about by AI.