US, UK, France lead AI adoption at 15-20%: Goldman Sachs
What's the story
Goldman Sachs Research has revealed that the adoption of artificial intelligence (AI) is highest in developed economies, with rates between 15-20%. The US, UK, France, and Netherlands are leading this trend. Emerging markets are also adopting AI but at a slower pace of 10-15%. The report highlights that industries heavily exposed to automation have seen a decline in job openings since H2 2022.
Job market shift
AI's impact on job openings
The Goldman Sachs report notes that the impact of AI on job openings is most pronounced in developed economies like Germany, Australia, and the US.
Industries with a high exposure to automation have seen a slowdown in hiring since late 2022.
The trend is especially visible in sectors such as information and communication services, call centers, software publishing, and advertising.
Sector impact
Decline in call center jobs
The report highlights a significant decline in call center jobs in the US, which are now 39% below normal trends.
Canada and Germany have also seen similar declines of 33% and 27%, respectively.
Despite these sector-specific contractions, the broader macroeconomic effects remain subdued with a minimal impact on annual headcount growth across the US, France, and Canada.
Labor market
Narrow effects of AI on hiring
The Goldman Sachs report emphasizes that the effects of AI on hiring are largely confined to a narrow set of industries and workers.
It also highlights specific vulnerabilities for entry-level positions as firms integrate automated solutions.
The study evaluated occupational exposure across over 800 occupations, showing that a 10% occupational exposure only dragged annual headcount growth by 0.1% point across the US, France, and Canada.