Goldman Sachs warns AI could displace up to 9% workers
Business
Goldman Sachs is sounding the alarm: its latest report predicts that AI could displace up to 9% of workers, about one in 11 workers.
Economist Joseph Briggs points out that while AI might boost productivity by 15%, it could also slow down hiring and put even more jobs at risk, especially if another recession hits.
Routine jobs face highest automation risk
Looking back, automation tends to accelerate during economic downturns: think back to the job losses in 2001 and 2008.
This time, routine jobs (the ones with repetitive tasks) are most likely to be automated away, while roles needing complex skills or a human touch are safer for now.
Right now, 23% of US establishments have incorporated AI into regular workflows, so there's still room for big changes ahead.