Why Should Goldman Care?

Note from the CEO:  Oh good, Goldman Sachs is not worried about all this new disruptive technology taking YOUR job. That’s a relief. We all know that there have always been technological advances and MANY jobs became obsolete but new ones sprang up too. Just don’t be in the obsolete group. Don’t worry, be happy. Goldman says so.

“Don’t fear the robots.

While new technologies are giving rise to a ‘jobs gap’ – or a mismatch between the jobs people want and the ones that are available – they’re also affording new opportunities for workers, Goldman Sachs Group Inc. argues in a new report.

The rise of automation, online tools, and big data echoes industrial revolutions of the past, with occupations and businesses following a ‘natural evolution’ as technology advances, the bank argues. While the transition can be painful, it can also be helped along by new policies seeking to better share the temporary discomfort of rapid tech-driven change.

‘The fact that technological change and innovation affects everybody across the political spectrum and the social spectrum means that there is a lot of focus on finding new approaches to bear the risk and to help people adapt,’ Sandra Lawson, director of Goldman Sachs Markets Institute, said in an internal interview last week to discuss the report.”

Read Full Article at Bloomberg