In the flood of headlines warning that artificial intelligence is about to wipe out jobs, David Solomon, CEO of Goldman Sachs, offers a different message. He argues that while roles may shift and tasks will change, a complete job collapse is unlikely. Instead, Solomon says AI will amplify productivity and create new opportunities , a viewpoint that contrasts sharply with the narrative of mass worker displacement.
Solomon has emphasized that technology has always transformed jobs , AI just moves faster. In a recent interview, he said that when these tools are placed in the hands of smart people, productivity naturally increases. He added that assuming his firm will simply “have fewer people” because of AI fails to capture how the business will evolve and expand.
At Goldman Sachs, the AI strategy includes upgrading internal systems and launching a broad “OneGS 3.0” initiative focused on automation, workflows, and client services. Despite announcements of a hiring slowdown and some cuts in routine positions, Solomon says the firm still expects a net increase in headcount this year.
Solomon sees three main reasons he isn’t buying the AI jobs freakout:
1. Jobs are shifting, not vanishing. He points out that while certain junior roles may diminish, new roles will emerge that demand higher-value skills. “We need more high-value people to expand,” he said.
2. Productivity expansion drives growth. AI’s biggest impact, according to Solomon, is on how work gets done — helping analysts and bankers become faster and smarter, not redundant.
3. Historic pattern of job evolution. He likens AI to earlier technology waves: jobs changed, but economies continued to grow and workers moved to new roles. Solomon notes that technology has been shaping head counts and job functions for decades, and AI is simply the next step in that evolution.
Take the bank’s rollout of the “GS AI Assistant,” a generative AI tool deployed across thousands of employees for summarizing documents and analyzing data. While the tool sparked debate about job security, the internal message was clear: the goal isn’t replacing humans , it’s using productivity gains to improve client service and expand new business areas.
Similarly, the broader labor market faces concerns: youth unemployment, fears of job displacement, and changing skill demands. Yet Solomon’s thesis suggests disruption does not equal destruction. Rather, the workforce evolves — moving from repetitive tasks to roles that emphasize judgment, creativity, and client interaction.
Solomon’s view offers a refreshing counter-narrative in the age of tech anxiety. It aligns with history, where automation didn’t eliminate jobs on a large scale but transformed industries and demanded adaptation. His focus on “high-value people” reflects a growing trend: in a digital world, human edge matters more than ever.
At the same time, Solomon acknowledges the risks. AI could cause volatility and shifts in employment functions. Entry-level roles may shrink, and skill gaps could widen. However, he focuses on opportunity, not fear , encouraging workers and companies to adapt rather than panic.
When you hear that the Goldman Sachs CEO isn’t buying the AI jobs freakout, what Solomon is really saying is this: yes, AI will reshape work. Yes, it will accelerate change. But it won’t necessarily leave humans behind. Instead, it may reward adaptability, creativity, and new skill sets. For today’s workers, the challenge isn’t about protecting old jobs , it’s about preparing for the next wave of opportunity.
