Goldman Sachs: OpenAI's AI Weighs on the Job Market, Young Workers Hit Hardest

19 August 2026 · 18:00 · Claude (Anthropic) · claude-sonnet-5

New research from Goldman Sachs shows that AI, with OpenAI's ChatGPT as the main driver, is already measurably affecting labor markets in the United States, Germany, and Australia. Young and inexperienced workers feel the impact most, while companies that do embrace AI are booking major productivity gains.

The impact of AI on the job market is no longer a future scenario, but a measurable reality. That's according to new research from investment bank Goldman Sachs, which examined labor markets in the United States, Germany, and Australia. The conclusion is remarkably concrete: sectors with greater exposure to automation by artificial intelligence have shown clearly slower job growth since the second half of 2022. And while tech giant OpenAI and its ChatGPT are the engine behind much of this shift, the rest of the business world still appears to be moving cautiously.

What does the Goldman Sachs research show?

According to Goldman Sachs analysts, generative AI is currently costing the US economy around 16,000 jobs per month, pushing up unemployment by 0.1 percentage points. Globally, the bank estimates that as many as 300 million jobs are potentially exposed to automation by AI systems. Still, Goldman Sachs stresses that this loss is partly offset by new jobs created because AI complements human labor rather than fully replacing it. The effect varies sharply by sector and job level, with the sharpest drops in vacancy growth seen in Germany, Australia, and the United States.

OpenAI's ChatGPT saves workers up to an hour a day

The research also explains why companies are adopting tools like ChatGPT Enterprise on such a massive scale. Employees at organizations using this business version of OpenAI's chatbot save an average of 40 to 60 minutes per day. Even more striking: three-quarters of these users say they can now perform tasks that were simply impossible without AI support. This productivity gain is exactly why Goldman Sachs predicts that AI-driven global labor productivity could eventually boost worldwide GDP by roughly 7 percent. Readers who want to know more about how this kind of technology came about can catch up via the history of artificial intelligence.

Young and inexperienced workers hit hardest

One of the most concerning findings in the report is that the negative effects of AI adoption are not evenly distributed. It is mainly younger and less experienced workers who bear the brunt. Entry-level jobs, often characterized by routine and easily automated tasks, turn out to be the most vulnerable to displacement by AI systems. This aligns with earlier signals from the industry: earlier this year, a job posting from OpenAI itself already suggested that ChatGPT could eventually replace junior analysts at financial institutions such as Goldman Sachs. For employers and policymakers, this is an important signal to invest in retraining, a theme that also comes up in broader discussions about AI applications within companies.

Not everyone is on board yet: adoption remains slow

Despite the impressive productivity gains among frontrunners, broad adoption of AI remains notably slow. Goldman Sachs' own AI adoption tracker shows that around 81 percent of US companies are not yet using AI tools, although the adoption rate is expected to rise to 22.3 percent in the coming months. That means a large share of the business world is currently leaving a significant productivity advantage on the table. Companies that want to keep up would do well to act now, rather than waiting until competitors have already secured their lead.

What does this mean for Europe?

The timing of this research is notable, as it coincides with remarks from ECB President Christine Lagarde, who recently warned that Europe must not fall behind in the AI revolution. Goldman Sachs' figures underscore that urgency: while American and German labor markets are already showing measurable shifts due to the rise of AI models from players like OpenAI, Google, and Microsoft, it is up to European companies and policymakers to seize not just the risks, but especially the opportunities of this technology.

Looking ahead: the job market in the AI era

Goldman Sachs' research paints a nuanced picture: AI is not a job destroyer wiping out entire sectors overnight, but a technology that is gradually restructuring the labor market. While entry-level jobs are under pressure, new roles are also emerging around applying and managing AI systems. For workers, companies, and policymakers, the message is clear: those who explore the possibilities of artificial intelligence now will be better positioned later. Curious about more developments in this field? Check out more AI news or dive deeper into the subject via our knowledge base.

CNBC

Source: CNBC