Goldman Sachs predicts AI will impact 300 million jobs by 2030

Goldman Sachs estimates that 300 million jobs will be impacted by artificial intelligence by the year 2030.

The financial firm’s projection suggests the emerging technology will reshape or erase roles across nearly every industry. Barry Jones, a Vice President at AI governance company X2X, said the current lack of oversight leaves a gap in accountability. “People need to understand that there still needs to be human involvement,” Jones said.

Jones illustrated the risk with an example of an AI assistant preparing financial reports. He warned that such a system could release critical financial information outside of a company’s internal workings if not properly controlled. “Imagine an AI assistant preparing financial reports,” Jones said. “That’s a potentially productive tool. But just imagine if that AI system provided that critical financial information outside of the company’s internal workings.”

Congressional members expressed divided views on the role of the federal government before leaving Capitol Hill for the midterms. Rep. Buddy Carter (R-GA) argued that keeping the federal government out of the process is preferable to stifling innovation. “We don’t want to stifle innovation. But at the same time, we got to get this right,” Carter said. Senator Elizabeth Warren (D-MA) countered that the United States must address the risks created by increasingly powerful AI systems through its representatives.

Jones criticized the concept of industry self-governance, comparing it to a fox watching a henhouse. He advocated for a third-party layer, potentially involving the government, to define what AI systems can and cannot do. Jones noted that private oversight is already creating new roles to replace those lost to technology. Microsoft recently announced it would offer buyouts to 60,000 employees due to AI.

Jones advised workers facing career pivots to start learning how AI applies to their specific professions. He emphasized that judgment, experience, and trust remain essential components of professional value. “The goal shouldn’t be to compete with the machine,” Jones said. “The goal should be to become someone who knows the useful power of the technology and using it responsibly.”

Efforts to regulate artificial intelligence remain stalled on Capitol Hill. The 120th Congress is expected to take up the issue in January.