Investment Strategy | Live Insights

Understanding the Macro Impact of AI: Investment, Growth, and the Labor Force

The transition to an AI-driven economy represents a multi-decade structural shift rather than an overnight revolution. In this Live Insights, Goldman Sachs’ Sharmin Mossavar-Rahmani and Jan Hatzius cut through the noise to deliver a data-driven reality check on AI’s impact on US economic growth, productivity, and the labor market.
Sep 8, 2026
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Sharmin Mossavar-Rahmani, chief investment officer of Wealth Management and head of the Investment Strategy Group (ISG), and Jan Hatzius, chief economist and head of Global Investment Research, uncover why investors may need to balance near-term hype with long-term potential.

“
One of the important themes that we've looked at historically is that when you've had technological innovation, it has led to new jobs altogether.”
Sharmin Mossavar-Rahmani
Chief Investment Officer of Wealth Management and Head of the Investment Strategy Group
  • 1
    Is Today’s Significant Investment in AI Driving US GDP Growth? (1:10)
    While market enthusiasm suggests AI is fueling immediate economic expansion, its current net contribution to measured US GDP growth is approximately 0.1 percentage point. Projected peak AI investment as a share of GDP is expected to reach levels broadly consistent with past major technological innovations.
  • 2
    Measuring AI’s Impact on Labor Productivity (7:19)
    The true economic promise of AI likely depends on widespread enterprise adoption to help unlock the productivity gains that could fuel long-term investment returns. Sharmin and Jan explore AI’s adoption across different sectors of the US economy and why there may be a gap between the US and other developed economies.
  • 3
    AI’s Impact on the Labor Market (12:15)
    While there will be disruption to the workforce, the labor market is dynamic over the long-term. Historically, worker displacement from automation has been offset by the creation of new roles.
“
My best guess for the unemployment rate (ten years from now) is that it's not going to be that different from where we are now, which is 4.1%.¹”
Jan Hatzius
Chief Economist and Head of Global Investment Research

For more on investing in artificial intelligence, watch our video, Understanding the AI Investment Landscape: Enterprise Adoption, Hyperscaler Capex, and Open-Source Models

Bring clarity to your AI investment strategy. Speak with a Goldman Sachs wealth advisor.
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1 US Bureau of Labor Statistics, July 2026

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