The Potentially Large Effects of Artificial Intelligence on Jobs | Goldman Sachs Economic Research

Workforce Trends

This 20-page paper analyzes the impact of generative AI on the economy and jobs. Based on occupational tasks data in the US and Europe, the report notes that roughly two-thirds of current jobs are exposed to some degree of AI automation and that generative AI could substitute up to one-fourth of current work. The analysis suggests 300 million jobs could be lost or diminished if generative AI delivers on its promised capabilities. As noted on page 7 (Exhibit 5), a few areas most impacted by automation are office administrative support, legal, architecture and engineering, business and financial operations, management, sales, and healthcare. It should be noted that advances in AI will also generate demand for new jobs, types of work, and related skills. The combination of job creation and job loss raises several questions for HR practitioners, such as: What jobs and work tasks in our organization are most exposed to automation by AI? How will these changes affect the skills that our workforce needs? Due to these changes, how will we alter our workforce planning, talent acquisition, and development efforts? In what ways will AI help us to unlock workforce capacity? HR leaders and their teams should answer these and other questions related to how AI will impact their business and workforce strategies. The report includes several other analyses to help understand the work areas most exposed to automation by AI.