Exchanges AI Exchanges: AI’s Impact on Employment
33 snips
Aug 5, 2025 
Joseph Briggs, a leader in global economics research at Goldman Sachs, joins the discussion on AI's transformative impact on employment. They analyze the potential labor displacement as AI adoption rises, particularly in sectors like technology and finance. The conversation covers the increasing demand for AI skills and the contrasting struggles faced by new graduates. They also reflect on historical technology shifts, highlighting the dual aspects of innovation and the emerging challenges in hybrid work models, particularly the reduction of junior roles.
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Early AI Adoption Limits Impact
- Only about 9% of US companies currently use AI in regular production, limiting labor market impact so far.
- Adoption is higher in tech but overall effects on employment and wages remain small.
Tech Sector Leads AI Impact
- The tech sector shows early AI adoption with some reduction in hiring, diverging from its long-term employment growth trend.
- Finance, education, and business services see growing AI adoption but still at low levels.
Junior Roles Face Early Headwinds
- Junior workers, especially recent graduates, face slower hiring and rising unemployment in AI-impacted tech jobs.
- Overall young worker unemployment rises less, indicating localized effects more than broad labor market shifts.