AI could replace equivalent of 300 million jobs - report

🎯 Impact Sentiment: Concerning

📋 Summary

• Goldman Sachs estimates AI could replace the equivalent of 300 million full-time jobs, automating a quarter of work tasks in the US and Europe, particularly hitting administrative and legal sectors.
• While AI might also generate new jobs and boost global productivity by up to 7%, its benefits won’t be spread evenly across all professions, with roles in construction and maintenance less vulnerable.
• Experts point out that new technology often increases competition and drives down wages in some jobs, even if it doesn’t immediately cut headcount.
• The actual long-term impact remains highly uncertain, with economists warning predictions should be viewed cautiously since past technological shifts have sometimes eliminated jobs faster than they created new ones.

💡 JR Insights

• 💼 Implication: AI won’t just automate away repetitive work—it’s about to touch creative, administrative, and even knowledge-based roles. Expect some job evolution, but many will see their tasks absorbed or shifted to lower pay brackets.
• 🚨 Risk: Workers in administrative and legal fields could be hardest hit—automation could mean not a pink slip, but a shrinking paycheck and less bargaining power. Don’t assume “creative” jobs are safe either: generative AI is getting better fast.
• ✨ Takeaway: The safest bet isn’t to ignore AI or hope to avoid it. Upskilling and learning to work alongside these technologies will be key. Don’t wait—start building skills and expertise that AI can’t easily automate or replicate.