Goldman Sachs deployed its army of analysts to study whether AI is replacing workers in developed economies. Turns out it is. Cost them probably six months and several million dollars to confirm what every graphic designer figured out when Midjourney launched.
The bank found AI is "weighing on employment" across developed markets. Weighing on employment. That's Goldman-speak for your job got automated and now you're explaining to your wife why you spent three years learning Photoshop instead of buying Bitcoin at $200.
They studied this. Wrote a whole report. Probably presented it to clients over catered lunch at some conference where tickets cost more than a used Camry. The conclusion: machines are cheaper than people. Groundbreaking stuff. Next they'll discover that companies prefer paying nothing over paying something.
Developed economies only, mind you. Goldman didn't waste time studying whether AI is replacing workers in frontier markets. Those people were already competing with seven-year-olds for factory jobs. Hard to squeeze labor markets that were pre-squeezed by globalization and desperation.
The really beautiful part is retail traders will read this headline and immediately start panic-buying semiconductor stocks because they think they're early. They're not early. Goldman's clients bought two years ago. Retail is the exit liquidity dressed up as the revolution.
Some junior analyst at Goldman probably spent four months building the dataset for this study. Scraped employment numbers. Ran regressions. Cross-referenced AI adoption rates. Formatted PowerPoint slides until his eyes bled. Then his boss fed all his work into ChatGPT and had it write the summary in eleven seconds.
AI is squeezing labor markets the same way Goldman squeezes its interns. Efficiently, without remorse, and with full knowledge that there's ten more waiting in line who'll do it for less.
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