US EditionPublished • loading... • Updated
Why the Goldman Sachs CEO Isn’t Buying the AI Jobs Freakout
Goldman Sachs forecasts a 4% job reduction in US white-collar roles by 2025 due to rapid AI adoption, with 37% of bankers’ clients already using AI for production.
- Goldman Sachs bankers warned of modest headcount reductions next year and cautioned that short-term disruption may rise as businesses deploy automation.
- A Goldman Sachs survey found 37% of clients use AI in production, with adoption forecast to reach 50% next year and 74% in three years as AI advances rapidly.
- Layoff tallies indicate 17,375 AI-related announcements and 20,219 tied to unspecified tech updates through September, according to Challenger, Gray & Christmas.
- Chegg, online education company, said it will slash nearly half its workforce, while YouTube began offering voluntary buyouts as Amazon CEO Andy Jassy said generative AI will shrink its corporate workforce.
- Jan Hatzius, Goldman Sachs chief economist, warned that AI's `transformative impact' could arrive sooner than expected, as OpenAI prepares for a $1 trillion IPO, according to reports.
Insights by Ground AI
11 Articles
11 Articles
Goldman Sachs CEO says AI-induced growth offers a ‘path out’ of America’s $38 trillion debt crisis
Between Wall Street, retail investors, Ivy League economists, and Washington policymakers, you’d be hard-pressed to find someone who isn’t nervous about America’s national debt burden. Their concern is for the day when confidence in the bond market wanes, when buyers of America’s borrowing question whether Uncle Sam can really pay his debts. Goldman Sachs CEO David Solomon is among those concerned about the $38 trillion national debt problem, jo…
·New York, United States
Read Full Article
Why the Goldman Sachs CEO isn’t buying the AI jobs freakout
The fingerprints of artificial intelligence are all over mass layoffs and downsizing at Meta, Amazon, Salesforce, YouTube and other major companies, raising fears of an AI-fueled jobs wipeout for white-collar workers.
·Atlanta, United States
Read Full Article
Coverage Details
Total News Sources11
Leaning Left1Leaning Right1Center6Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
13%
C 75%
12%
Factuality
To view factuality data please Upgrade to Premium
