Goldman Sachs CEO David Solomon Expects People to Work Longer as AI Extends Health and Lifespans
Key Takeaways
- •Goldman Sachs CEO David Solomon said he expects AI-driven improvements in health and human lifespans to keep people working for more years.
- •Solomon emphasized that work provides purpose beyond income and that responsibility for managing AI's labor impact rests with both governments and companies, including support for workers during transitions.
- •He said the US economy had been on track for strong performance as inflation eased, but the Iran war has weighed on the outlook by pushing up fuel, transportation, and supply chain costs.
- •Solomon described employment and wage growth as relatively strong and the economy as resilient, while cautioning that higher diesel prices would eventually be passed on to consumers.
- •Upcoming inflation readings and how governments and firms respond to AI-related labor shifts are likely to draw attention from markets and policymakers, according to Solomon's remarks.
Goldman Sachs CEO David Solomon said he expects longer human lifespans to keep people in the workforce for longer, pointing to artificial intelligence as a force that could improve health and extend lives.
Speaking in a recent interview with NBC News, Solomon said the AI development he is most excited about is its potential to improve health and extend human lifespans. He added that work provides more than income.
“People also work because it gives them purpose,” Solomon said.
As the head of one of Wall Street's largest investment banks, Solomon is among the corporate leaders whose remarks feed an ongoing public debate over how AI will reshape jobs and working lives.
The Wall Street executive said responsibility for managing AI's impact rests across society. If technological advances disrupt the labor force more quickly, governments and private companies should cooperate on policies and support for workers during periods of transition, he noted.
Solomon said innovation should continue, but companies must also take responsibility for the consequences of new technologies. He added that leaders in both the public and private sectors have a role in helping AI address problems, including disease, while managing the risks associated with its development.
On the economy, the Goldman Sachs chief said the US economy had been on track for strong performance before the Iran war, as inflation continued to ease. However, he said the conflict has weighed on the outlook by pushing up fuel and transportation costs and adding pressure to supply chains. Fuel and freight expenses are a familiar channel through which energy pressures reach consumers, as businesses typically pass higher input costs into the prices they charge.
Solomon said employment and wage growth had remained relatively strong and described the economy as resilient. Still, he cautioned that higher diesel prices would eventually reach consumers as higher costs move through the supply chain. How those cost pressures appear in upcoming inflation readings, and how governments and companies respond to AI-related labor shifts, are among the points likely to draw attention from markets and policymakers in the period ahead.
