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Gen AI may replace some jobs, but will create more: Economist

Generative AI seems to be on the top of minds for both businesses and workers as concerns over how it will impact operations and the labor market grow. Goldman Sachs Chief Economist Jan Hatzius joins Catalysts to give insight into the potential impacts of generative AI on the labor market. Hatzius believes there there will be impacts to certain areas but: "Our expectation, though, is that we'll find what we found time and time again. As there are fewer jobs in one area, you see an increase in jobs and renewed job creation in other areas. So I wouldn't say that this is a factor that's going to increase the unemployment rate over time, but it will accelerate structural change in the labor market as it has done for many, many years." For more expert insight and the latest market action, click here to watch this full episode of Catalysts and click here to see the full interview with Jan Hatzius. This post was written by Nicholas Jacobino