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Goldman Sachs CEO Solomon published a commentary in The New York Times stating that the panic about AI triggering "job doomsday and mass unemployment" has been exaggerated. Solomon believes that AI will not eliminate jobs on a catastrophic scale, but will instead increase the productivity of workers, leading them to shift towards higher value tasks and create new positions focused on managing, implementing, verifying, and overseeing AI systems. However, he also acknowledges that the labor market will face impact, but he points out that the US economy has successfully absorbed similar technological disruptions in the past, with overall employment and living standards continuing to rise. AI is likely to follow the path of previous technological revolutions - eliminating some positions while expanding others. For example, just this year, the investment of $700 billion in capital expenditure by mega-scale cloud service companies has led to a surge in construction industry jobs. Solomon cited predictions from Goldman Sachs economists that AI may automate 25% of current job hours in the next decade, with white-collar industries such as banking, law, accounting, software development, and customer service facing the greatest impact.