According to Goldman Sachs, artificial intelligence is already beginning to exert pressure on the labor markets of the largest developed economies, with the impact varying by sector and worker qualification level.
As reported by CNBC, the American investment bank found in its study that in sectors where automation through AI is most prevalent, the growth in the number of job vacancies has generally slowed since the second half of 2022.
The article states that this connection is particularly evident in Germany, Australia, and the USA.
A recently published report by Goldman Sachs indicates that since 2022, the growth of employment in the information and communication services sector, one of the most affected by AI, has slowed in almost all major developed economies.
According to Goldman, the level of employment in call centers, management consulting, and advertising has significantly decreased compared to historical trends.
Call centers stand out in particular. Currently, employment in this sector in the USA is 39% below the trend level, in Canada 33%, and in Germany 27%.
Goldman notes that this trend indicates that the pressure of AI on employment is already noticeable in sectors where tools for automating work processes are available.
When looking at the labor market as a whole, the article states that the 10% susceptibility of professions to AI is associated with a mere 0.1 percentage point decrease in annual growth in the number of employed in France, Canada, and the USA.
Overall, the investment bank concluded that AI-related pressure on hiring is already clearly reflected in employment data worldwide, but so far it is limited to relatively narrow sectors and groups of workers.
The impact on the labor market emerges against the backdrop of the spread of AI in developed economies.
As CNBC explains, Goldman has correlated data from 11 studies measuring the level of AI adoption in different countries and found that in the largest developed economies, this figure is about 15-20%.
France, the USA, the Netherlands, and the UK are leaders in the level of AI adoption, while Italy, Japan, and New Zealand have the lowest levels of AI penetration among developed economies.
