Goldman Sachs Says AI Has Taken 16,000 Jobs This Year, These Are The Sectors Hit Hardest

New research from Goldman Sachs (of ‘08 financial crisis fame) has managed to separate out jobs that are at risk of being replaced by AI from those augmented by AI and the data is staggering.

Roughly 16,000 jobs have been trimmed from payroll this year, increasing the unemployment rate by 0.1%. So it’s not quite taking everyone’s jobs just yet, but it sure is starting.

Related: Microsoft AI Chief Gives 18 Months Before All White-Collar Jobs Go To AI. Are We All Screwed?

Most at risk are telephone operators, insurance claims clerks, and bill collectors, according to the research. But also listed are billing clerks, telemarketers, payroll clerks, legal assistants, procurement clerks, proofreaders, and word processors.

Wait, hold on, what was that last one? Now come on, I’m pretty sure AI can’t replace m–

For years, tech CEOs promised AI would “augment” workers. You know, like Iron Man’s suit. Instead, corporate America looked at ChatGPT and said, “Wait… we’re paying humans for this?”

Now banks, consulting firms, customer support departments, and basically every company with a Slack subscription are racing to replace junior workers with algorithms that never sleep, never unionize, and don’t spend half the day pretending to update spreadsheets.

Even Goldman Sachs admits the biggest impact is hitting younger white-collar workers entering “knowledge and content creation sectors.”

In other words, the exact people who went $200,000 into debt for communications degrees.

Meanwhile, the winners in the AI economy may end up being electricians, HVAC workers, construction crews, and anyone capable of physically existing in the real world. Goldman Sachs says the AI boom is creating huge demand for data centers and power infrastructure, with hundreds of thousands of jobs tied to building the electrical backbone for AI systems.

So after two decades of parents saying:

“You don’t want to work trades. Go work in an office.”

The economy has apparently responded:

“Actually, the office is not interested in you now.”

The funniest part is that Wall Street still can’t decide whether AI is an economic miracle or the opening scene of a dystopian Netflix series.

One week, Goldman Sachs warns AI could raise unemployment and hammer labor markets. The next, executives insist fears of mass unemployment are “overblown.”

Classic Wall Street behavior:

1. Create panic
2. Buy the dip
3. Tell everyone everything is fine

Other banks are already moving. HSBC has openly discussed AI-driven restructuring, while JPMorgan Chase executives say the future means hiring more AI engineers and fewer traditional bankers.

And let’s be honest: everyone already sees it happening.

Why hire 12 entry-level analysts when one caffeinated associate with GPT-9 can crank out the same PowerPoint in 15 minutes?

The scary part isn’t that AI will replace all jobs. It’s that it may hollow out the bottom rung of white-collar careers entirely.

That first miserable corporate job used to be where people learned how industries worked. You survived Excel abuse, got yelled at on Zoom, mastered fake enthusiasm, and eventually climbed the ladder.

But if AI kills the ladder itself, what happens next?

Wall Street’s current answer seems to be:
“Have you considered becoming an electrician?”

Of course, markets still love the AI story because investors see lower labor costs and higher margins. AI doesn’t ask for raises, healthcare, or “mental health days.” It just quietly consumes electricity and shareholder value.

And the spending frenzy is massive. Big Tech companies are pouring hundreds of billions into AI infrastructure while banks scramble to figure out whether this is the next Industrial Revolution or just the dot-com bubble wearing a hoodie.

Either way, one thing is becoming clear:

The AI trade isn’t just about Nvidia chips anymore.

It’s about whether the modern white-collar economy was basically one giant automatable middleman layer all along.