Goldman studied where AI is squeezing labor markets. Here's what it found
Goldman Sachs found that AI is starting to weigh on employment across developed economies.
TL;DR
- AI is starting to impact labor markets in major developed economies, with effects varying by industry and seniority.
- Industries with higher AI automation exposure have seen slower job openings growth since the second half of 2022.
- Employment in information and communication services has slowed across most developed economies, though it remains near or above trend outside the U.S.
- Sectors like call centers, software publishing, management consulting, and advertising have experienced significant employment declines below historical trends.
- Entry-level workers are experiencing the strongest AI-related employment headwinds.
- AI adoption rates are around 15%-20% in major developed markets and 10%-15% in major emerging markets.
- France, the U.S., the Netherlands, and the U.K. are leading AI adoption among developed economies.