Goldman Sachs CEO argues AI will not eliminate 25% of jobs, calling apocalypse fears exaggerated

on this, @DavidSacks and I agree.

The CEO of Goldman Sachs is taking the other side on the pessimistic takes on AI and jobs.

If you looked at what work looked like a few decades ago and saw how much faster everything is or easier it is to produce the same thing as before - even before AI - you’d certainly have been convinced there’d be no jobs left.

What happens is we constantly just demand more from everything. Instead of automating a task and delivering the same value proposition, but cheaper, we just expect more from the overall product or service. Because some players in the market decides to do more with the automation, and it raises everyone’s expectations. So those that don’t respond can’t compete.

We get more financial analysis from analysts. We get much more comprehensive legal advice. We get more tailored financial services offerings. We get better software in niches we never thought we could automate. Our healthcare providers offer more tests and deeper medical advice. This just goes on and on.

When you move from believing the world is static and you’ll have a better view of how jobs evolve due to AI.

nytimes: Goldman Sachs CEO David Solomon just argued that AI will automate large parts of work without making human labor obsolete.

Goldman estimates AI may automate 25% of current work hours, while exposed entry-level roles have already seen a 16% relative decline.

However, he says that AI cuts the time needed for a task, but markets rarely keep the same product and merely make it cheaper.

They raise the standard, so an analyst who once built 1 chart now produces broader modeling, faster comparisons, sharper client work, and more follow-up.

So there will be demand expansion, where automation makes each worker capable of more, and customers then expect more detail, speed, personalization, and coverage.

That is why data centers can create 200,000+ construction jobs, banks may shift staff toward client-facing roles, and old jobs break apart into new mixes of judgment, review, compliance, and AI supervision.

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nytimes .com/2026/05/22/opinion/ai-job-crisis-goldman-sachs.html?smid=nytcore-ios-share