Goldman CEO Solomon Says AI Mass-Unemployment Fears Are Overblown, New Jobs Will Emerge

Goldman Sachs expects generative AI to reshape jobs gradually over the long term rather than trigger a near-term “jobs apocalypse.” As technology giants continue building data centers, power infrastructure and manufacturing facilities, some labor demand is shifting from white-collar roles to physical infrastructure work such as construction and equipment installation. The total investment involved has not been disclosed.

Goldman Sachs estimates in its latest report that AI could displace about 15 million U.S. jobs over the next decade. However, the shift will not happen all at once because companies need time to adopt the technology and workers need time to change careers. The report also expects labor shortages in two areas: industrial infrastructure and AI infrastructure. Available event data does not specify the report’s publication date or any individual investment amount.

Bank of America economists say AI’s impact on the labor market will extend beyond replacing workers and could also create new roles, industries and business models. Some existing jobs will disappear or evolve, but productivity gains and new demand are expected to redistribute employment opportunities, making corporate investment and workforce training increasingly important.

BofA’s latest report says AI adoption is more likely to create new types of jobs than simply reduce vacancies, emphasizing that technological change will both displace roles and generate new demand. However, available reports do not disclose the report’s publication date, estimates for the number of new jobs created or investment amounts. The current focus therefore remains on the likely direction of changes in employment structures and productivity.