At the same time, policy responses like higher tax rates could cut into an AI-assisted increase in earnings, according to Goldman Sachs Research. Our economists expect some jobs to be lost due to AI adoption. Meanwhile, U.S. corporate profits as a share of GDP are at an elevated level relative to history, while wages as a share of GDP remain near a historical low. And even though our economists also predict — and history suggests — that many workers who are displaced by AI automation will...| www.goldmansachs.com
At the same time, advances in AI are expected to have far-reaching implications for the global enterprise software, healthcare and financial services industries, according to a separate report from Goldman Sachs Research. With well-known tech giants poised to roll out their own generative AI tools, the enterprise software industry appears to be embarking on the next wave of innovation, after the development of the internet, mobile and cloud computing transformed the ways we operate as a society.| www.goldmansachs.com