The Goldman Sachs sign on the floor of the New York Stock Exchange (NYSE) on Tuesday, July 14, 2026 in New York, USA.
Michael Nagle | Bloomberg | Getty Images
According to Goldman Sachs, artificial intelligence is starting to weigh on labor markets across major developed countries, with the impact varying by industry and seniority level.
The Wall Street investment bank found in a study that industries with a high impact on AI automation generally saw job growth slowing after the second half of 2022, particularly in Germany, Australia, and the United States.
Goldman said in a report released Wednesday that employment in information and communications services, among the industries most exposed to AI, is slowing in nearly every major developed country from 2022 onwards.
However, employment in these industries remains close to or above long-term trends outside the United States.
Goldman looked more closely at industries that are highly exposed to AI and found similar, but generally more benign patterns of employment headwinds in other developed markets.
Employment in call centers, software publishing, management consulting and advertising is well below historical trends across developed markets, Goldman said.
Call centers in particular stand out. According to the report, employment in the industry is currently down 39% below trend in the United States, 33% in Canada, and 27% in Germany. Goldman said this pattern shows that AI-related employment pressures are already evident in industries where tools that can automate tasks are available.
Entry-level employees feel more pressure
This effect seems to be more pronounced for those who are starting their careers.
Goldman analyzed job growth across more than 800 occupations and found that AI-related headwinds are strongest among entry-level workers. We also found a smaller but additional negative impact among occupations considered to be at high risk of being ostracized by AI.
Across the broader labor market, France, Canada, and the United States experienced a mere 0.1 percentage point annual increase in the number of employees, even with 10% occupational exposure to AI. However, for entry-level workers, the effects ranged from more than 0.6 percentage points (Australia) to more than 0.2 percentage points (United States).
Overall, the investment bank concluded that AI-related hiring pressures are clearly visible in employment data around the world, but remain confined to a relatively narrow range of industries and workers.
Regions where AI adoption is the most advanced
As the adoption of AI spreads across developed countries, there will be implications for the labor market.
Goldman combined 11 studies that measured AI adoption in different countries and found that adoption rates in major developed markets are around 15% to 20%.
France, the US, the Netherlands, and the UK are leading the way in AI adoption, while Italy, Japan, and New Zealand are at the bottom of the list among developed countries.
Meanwhile, adoption rates in major emerging markets were estimated at 10-15%.
