Artificial intelligence (AI) is rapidly transforming the job market, and white-collar roles are among the most vulnerable to this shift. Former investment banker and author John LeFevre emphasized this risk, echoing comments from Goldman Sachs CEO David Solomon. According to Solomon, the bank now uses AI to draft IPO (Initial Public Offering) documents, a task that previously required a six-person team two weeks to complete. With AI, 95% of this work can now be done in minutes, leaving only the final 5% for human oversight and refinement. Solomon highlighted the importance of this remaining portion, as the rest has become a commodity.
LeFevre warned that white-collar jobs will be replaced quickly as AI continues to advance. Solomon also cautioned private companies to think carefully before going public, noting that the availability of private market capital has reduced the necessity for many businesses to list on public markets.
The trend extends beyond finance. Meta CEO Mark Zuckerberg recently stated that in the future, AI engineers will replace human engineers in creating code for apps. Similarly, Google CEO Sundar Pichai revealed that 25% of new code at the company is already generated by AI. Meanwhile, IBM CEO Arvind Krishna estimated that AI could replace up to 30% of back-office roles in his company.
These developments reflect the broader impact of AI on the workforce. Tasks once considered secure, such as coding, document drafting, and administrative duties, are being automated at an unprecedented pace. According to the World Economic Forum (WEF), 39% of current skills could become obsolete by 2030, and 22% of jobs are at risk of being replaced by AI.
As AI continues to reshape industries, the need for reskilling and adapting to this new reality has become urgent. While the technology offers significant efficiency and cost-saving benefits, it also raises concerns about employment, economic inequality, and the human role in an AI-driven world.