""Technology has been having an impact on head count and the way people work, what workers you have, for decades and decades and decades," Solomon told CNBC's "Squawk Box" in a Tuesday interview. The one difference with the AI revolution is the pace of change, he said. The speed at which AI is developing could lead to "a little bit more volatility, or an unsettled transition around certain job functions and things like that," he added."
""Despite the potential for job disruption, the changes AI is introducing are giving Goldman "more capacity to invest" over the next three to five years and grow the business, Solomon said. "At the end of the day, we have an incredibly flexible, nimble economy. We have a great ability to adapt and adjust. And yes, there will be job functions that shift and change, but I'm excited about it.""
AI resembles previous technological revolutions in its impact on head count and job roles, but it is distinguished by a much faster pace of change. Rapid AI development could cause volatility and unsettled transitions in certain job functions while shifting the mix of engineers and technical roles. AI integration is creating capacity for targeted investment and potential business growth over three to five years. Goldman Sachs plans a limited reduction in roles, with restricted head-count growth through year-end, as part of an AI-driven overhaul called OneGS 3.0 to embed AI across internal systems from onboarding to risk management.
Read at Business Insider
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