AI To Displace 15 Million US Jobs, Roughly 9% of Labour Market: Goldman Sachs Top Economist Joseph Briggs
Goldman Sachs economist Joseph Briggs estimates AI could displace 15 million US workers but maintains that new job creation will mitigate long-term impacts. MIT researcher Neil Thompson likens AI's effect to a "rising tide," while CEO David Solomon notes strong investor "greed" for AI capital.
The rapid integration of artificial intelligence into the global workforce is poised to displace approximately 9% of the U.S. labour market, or roughly 15 million workers. Despite this significant figure, experts are cautioning against the belief that these roles will be permanently lost, suggesting instead that the economy possesses the inherent resilience to reabsorb displaced personnel through new job creation.
As per a report by Times of India, Goldman Sachs economist Joseph Briggs has argued that history supports the view that technological upheaval ultimately fosters growth. He noted that 85% of job growth over the past eight decades has stemmed from positions created by technological innovation. Briggs emphasised that the U.S. labour market sees an annual churn of roughly 30 million jobs created and 29 million destroyed, suggesting that AI disruption is not necessarily a permanent net loss for the workforce. AI-Driven Layoffs Fail Expectations, Companies Are Rehiring Staff After Cutting Jobs: Report.
The impact of AI may be more gradual than its technical capabilities might suggest. Neil Thompson, a principal research scientist at MIT, describes AI’s influence as a "rising tide" rather than a "crashing wave." During an appearance on the Goldman Sachs Exchanges podcast, Thompson explained that AI adoption is currently constrained by factors such as regulatory hurdles, cost efficiency, and data access.
In many sectors, AI is expected to automate specific tasks rather than eliminate entire roles. Thompson’s research, alongside colleagues at MIT, highlights that the "last mile" of full automation remains technically difficult and prohibitively expensive for many businesses. Consequently, the transition is more likely to be a process of human-AI collaboration where technology handles routine tasks, allowing workers to focus on more complex, value-added responsibilities.
These projections arrive during a period of cooling in the U.S. labour market. Recent data showed job growth falling below expectations, though some analysts debate whether this is a precursor to AI-driven displacement or a temporary economic fluctuation. Layoffs 2026: Over 1.22 Lakh Laid Off Globally by Tech Companies; AI Primary Reason.
Meanwhile, market sentiment remains distinctly optimistic regarding the technology itself. Goldman Sachs CEO David Solomon recently observed that investors have shifted into a "greed" phase, driven by the massive fundraising requirements of leading AI firms. With AI companies seeking billions in capital for infrastructure and expansion, liquidity remains abundant. Solomon noted that while enthusiasm can shift to fear, the current optimism continues to fuel significant capital investment in AI’s long-term growth potential.
(The above story first appeared on LatestLY on Jul 05, 2026 03:59 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).