Goldman Sachs CEO Says AI ‘Job Apocalypse’ Is ‘Overblown’
Goldman Sachs CEO Says AI ‘Job Apocalypse’ Is ‘Overblown’
Publish Date: 2026-05-22 14:07:00
Source Domain: www.forbes.com
Topline
Goldman Sachs chief David Solomon believes concerns about advancements in artificial intelligence sparking a wave of mass unemployment are “overblown,” writing in a New York Times guest essay that the U.S. will be able to adapt and expand its workforce to AI advancements.
David Solomon, CEO of Goldman Sachs, speaks on stage during the Italian Tech Week 2025.
Photo by Nicolò Campo/LightRocket via Getty Images
Key Facts
In the essay titled, “I’m the C.E.O. of Goldman Sachs. The A.I. Job Apocalypse Is Overblown,” Sachs posits AI presents a “a great leap forward for society” that comes with “a few caveats.”
Solomon acknowledged AI’s disruption of the labor market “will entail new challenges,” citing Goldman Sachs analysis that estimates AI may automate 25% of current work hours in the next ten years.
Solomon said it is difficult to understand AI’s looming impact on certain blue-collar jobs, but noted white-collar jobs in areas like accounting, banking and law “will likely see many of their tasks automated.”
The Goldman Sachs CEO has three reasons he expects the U.S. economy to stay resilient as AI disrupts employment standards, believing AI will free up human workers to complete more complex tasks, enhance the standards of existing professions instead of making them obsolete and create jobs for humans to manage the AI being used by their companies.
Solomon said if AI destroys jobs at an unprecedented scale, there should be a “joint effort” between the public and private sectors to help workers and institutions adapt to the new labor market.
Crucial Quote
“In 1930, John Maynard Keynes famously predicted that, by 2030, people would work only 15 hours a week,” Solomon said. “While his vision of a leisure-filled future remains unfulfilled, it is a good reminder that fears of a job apocalypse may very well overlook A.I.’s potential to spur an economic and productivity revival.”
Chief Critic
Daron Acemoglu, an economist and…
