In March 2023, the investment bank Goldman Sachs released a report analyzing the impact AI will have on various professions within the U.S. economy. Below are the key findings from the report:

AI will replace 7% of jobs.

7% of current employment in the U.S. could be replaced by AI. The job areas most susceptible to replacement are administrative functions, which have a 46% probability of being replaced, and legal jobs, with a 44% probability.

AI will complement 63% of jobs.

63% of current jobs in the U.S. will be complemented, meaning AI would act as a tool assisting workers rather than replacing them. 

Occupations that would benefit the most from this complementation include architecture and engineering (37%), life, physical, and social sciences (36%), business and financial operations (35%), and many other roles ranging between 19% and 35% complementation.

It’s important to note that nearly all industries (25%) would experience some degree of complementation by AI.

AI will not significantly affect 30% of jobs.

30% of current jobs in the U.S. would not be significantly impacted by AI. Occupations in this category include production (9%), construction and extraction (6%), installation, maintenance, and repair (4%), and building and grounds cleaning and maintenance (1%).

Final Thoughts.

The true magnitude of AI’s impact on the job market will depend on factors such as the adaptability of the workforce, training and reeducation, and the evolution of job demand in response to partial labor savings across most occupations.

As we will see later on, although AI can replace certain tasks, it also has the potential to create new job opportunities and to enhance efficiency and quality in many occupations.

In conclusion, AI has the potential to significantly transform the job landscape, but it also offers opportunities to complement and enhance human work. It is essential for businesses, governments, and educators to be prepared to adapt and make the most of the opportunities this technology offers.