David Solomon staked a contrarian claim on the future of work this weekend, arguing that artificial intelligence will expand — rather than contract — Goldman Sachs’s workforce over the next decade. In an interview with Yahoo Finance quoted by WebProNews, Solomon said the bank’s investment in AI will “automate certain tasks” while generating new, higher-skilled roles in data science, controls and AI ethics, and that the broader U.S. economy is “still in pretty good shape” despite trade tensions and a cooling labor market.

Solomon’s comments come as Goldman prepares to deploy “billions” of dollars into AI systems, according to people familiar with the bank’s strategy. The investment bank has signaled that the capital will be used to modernize trading platforms, client services and risk systems — areas where automation can compress transaction times and create demand for engineers, model validators and compliance specialists. “We think AI is a tool that will make our work more complex and our business more valuable,” Solomon said.

The assertion runs counter to common narratives that automation will eliminate large swaths of employment. Broad industry estimates paint a more nuanced picture: consultancy McKinsey has estimated AI could add nearly $13 trillion to global GDP by 2030, while researchers emphasize that automation tends to change task composition within jobs rather than eliminate entire occupations. For financial firms, that translates into fewer repetitive tasks and more roles focusing on oversight, model governance and product innovation.

Macro conditions strengthen Solomon’s thesis. Policymakers have channeled sizable funds into semiconductor capacity, AI research and digital infrastructure through measures such as the CHIPS Act and expanded federal procurement for AI systems. Those interventions are expected to underpin private-sector tech buildouts and generate cross-sector employment. At the same time, the U.S. labor market has softened from the blistering post-pandemic pace; unemployment remains near historical lows, roughly 4 percent, even as monthly payroll gains have moderated, prompting debate about whether technology or cyclical forces will shape hiring in 2026.

Analysts say Solomon’s stance has implications for how investors value financial firms. If AI investments yield productivity gains without headcount declines, revenue per employee could rise while absolute payrolls stay flat or grow, supporting higher margins and more complex service offerings. But the outcome depends on effective integration: large-scale AI rollouts increase model risk, compliance burdens and demand for governance teams — factors that can raise costs in the near term.

Policy and labor-market interventions will matter. Economists warn that without robust reskilling programs and clearer rules for AI governance, transitions could be uneven, concentrating opportunities in technical hubs and widening wage gaps. Solomon acknowledged that challenge, saying firms must invest in people as well as systems.

Goldman’s wager is therefore both technological and social: the bank is betting that AI will be a collaborative growth engine, creating new classes of work even as it replaces repetitive tasks. Whether that promise materializes will hinge on corporate strategy, public policy and how quickly the market absorbs new models into regulated, high-stakes industries like finance.