A recent article by Futurism discusses a Goldman Sachs report warning that Generation Z could face a future shaped by automation and artificial intelligence. The report suggests that while AI will likely boost productivity and economic growth, it may also replace many entry-level jobs, the very positions younger workers depend on to start their careers.
This creates a major challenge for both workers and policymakers. If the economy grows because of AI but doesn’t create enough jobs, we could experience what economists call “jobless growth.” In theory, output rises, but employment stagnates. That disconnect has serious implications for income distribution, consumer demand, and long-term stability.
From a macroeconomic perspective, this situation highlights the tension between technological progress and labor market adjustment. Innovation boosts efficiency, but it can also make certain skills or roles obsolete faster than new ones appear. It also connects to structural change, where economies shift toward sectors that rely more on capital and technology than on human labor.
For students and young professionals, this raises real questions about how to prepare for a future shaped by automation. Should we focus on developing technical skills to work with AI, or on creative and interpersonal skills that machines can’t replace? And for policymakers, how do you support growth while also protecting opportunities for new workers?
https://futurism.com/artificial-intelligence/goldman-sachs-genz-automation
Your last comment points out that Gen Z will need a mix of technical skills and people skills. Learning to work with AI instead of seeing it as competition I think will be key. But also being creative, flexible, and curious will matter just as much as knowing a bunch of technical skills.
ReplyDeleteIt is interesting to see how AI has affected the job market, notably the entry level jobs. The comment about a shift away from human labor seems to be where the toll has been the highest with use of AI, hopefully with innovations in AI takeover the amount that it is currently replacing.
ReplyDeletedon’t think Gen Z is doomed, but the on-ramp is changing. AI will cut some entry-level tasks, yet it also creates new ones in support, data cleanup, content ops, and customer success—jobs that reward people who can learn fast and work well with others. The key is stacking simple, useful skills (basic coding or analytics, clear writing, and good communication) and showing them with small projects or short gigs. Schools and employers should meet in the middle with paid apprenticeships and real training, so first jobs teach, not just screen. If we build those rungs, AI becomes a ladder, not a wall.
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