Goldman Sachs has more bad news for employees facing AI layoffs; says: Losing your job to AI could be more costly as it may mean years of …

Goldman Sachs has warned that losing a job due to artificial intelligence (AI) could have long-term financial impact, with workers facing lower earnings and slower career growth for years. In a new report, the Wall Street bank said its analysis of 40 years of labour market data shows that workers displaced by technology often continue to face challenges long after losing their jobs. “Our analysis suggests that, similarly to previous waves of technological change, AI-driven displacement could impose lasting costs on affected workers, worsening labor market outcomes for several years,” analysts said. They added that the impact could be even worse if job losses happen during a recession.

Pay cuts and slower growth due to AI