Goldman Sachs Says AI Jobs Apocalypse Is Overstated as Infrastructure Faces Labor Shortages

The rapid adoption of generative AI in knowledge-intensive industries such as finance and law has fueled concerns that automation will displace white-collar jobs. Goldman Sachs CEO David Solomon said the technological shift would reshape job responsibilities, but productivity gains would also create new roles in areas including systems management, risk control and regulation. He said the labor market was not headed for an “apocalypse.”

In a New York Times opinion piece published by July 2026, Solomon said banking and the legal industry would be among the first affected, but fears of mass unemployment were overblown. He also said AI infrastructure development had already spurred about $700 billion in investment. The construction, maintenance and operation of data centers and related facilities are creating tangible demand for workers in construction, engineering and technical services.