Goldman Sachs CEO: AI will not lead to large-scale unemployment on Wall Street

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BlockBeats News, June 4th, Goldman Sachs Group Chairman and CEO David Solomon stated in an interview that although artificial intelligence is rapidly penetrating the banking industry, he does not believe AI will trigger large-scale white-collar unemployment on Wall Street.

Solomon pointed out that employees at all levels within Goldman Sachs—from back-office staff and junior analysts to senior investment bankers—are actively using AI technology. He believes that artificial intelligence will improve productivity and change the way work is done, but will not lead to widespread job losses.

In addition, Solomon also discussed the current capital market environment and Goldman Sachs' role in the SpaceX IPO and Alphabet's historic equity financing. He also shared his early experience in the junk bond business and stated that artificial intelligence is transforming the music production industry.

As major global banks accelerate AI deployment, the impact of artificial intelligence on employment and productivity in the financial industry is becoming a market focus.

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