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Who's Lying in AI Era? Tech Giants Claim Job Creation While Mass Layoffs Continue
Goldman Sachs released "Quantifying the Risks of AI-Related Job Displacement" on July 25, predicting generative AI will boost US labor productivity by 15% but may increase unemployment by 0.5 percentage points short-term. The report shows 2.5% of US jobs currently face automation risk, with tech workers aged 20-30 seeing 3-point unemployment rise. Proofreaders and credit analysts face highest displacement risk, while dermatologists and preschool teachers face lowest. Amazon and JPMorgan executives have publicly announced AI-driven workforce reductions.
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By Wall Street PodcastGoldman Sachs released "Quantifying the Risks of AI-Related Job Displacement" on July 25, predicting generative AI will boost US labor productivity by 15% but may increase unemployment by 0.5 percentage points short-term. The report shows 2.5% of US jobs currently face automation risk, with tech workers aged 20-30 seeing 3-point unemployment rise. Proofreaders and credit analysts face highest displacement risk, while dermatologists and preschool teachers face lowest. Amazon and JPMorgan executives have publicly announced AI-driven workforce reductions.