Young people will be better equipped than older workers to adjust to AI’s disruptive economic effects, new research from two major investment banks suggested.
Workers under 30 can switch career paths more easily, Goldman Sachs analysts said in a note to clients, and learn the new skills required for AI-enabled work, while older workers may face the highest earnings loss.
Older people are also more likely to hold significant equity, a separate report from HSBC’s global chief economist said, so their wealth will be hit hardest if or when a feared bubble in AI investment pops.
Nonetheless, recent studies say that there are fewer entry-level roles being posted, which some firms credit to AI reducing headcount requirements.