Posted 3/19/2024, 5:24:00 PM
Goldman Sachs: AI Could Boost Economy but Disrupt Jobs Short-Term
- Goldman Sachs economist Jan Hatzius predicts AI will boost U.S. economy long-term but may "destroy employment in some areas" short-term
- Hatzius has strong track record, predicting 2008 financial crash and recent "soft landing" for economy
- AI could replace up to 50% of tasks for 300 million jobs in U.S. and Europe, per Goldman Sachs
- Worker productivity could increase up to 40% for skilled workers using AI for suitable tasks
- Hatzius estimates AI-driven growth will fully kick in by late 2020s, adding 0.4% to U.S. GDP if adopted widely