AI Impact On Jobs: Goldman Sachs Warns Middle Management Roles Could Be Reshaped

Artificial intelligence is expected to bring major changes to the finance industry and future jobs, with traditional middle-management roles among those likely to be affected. Kevin Sneader, who leads Goldman Sachs’ business in Asia Pacific outside Japan, said the way employees move through their careers could change as companies use AI more widely, according to media reports.

Speaking at the Milken Institute Asia Summit in Singapore, Sneader said young employees entering the financial industry could soon be managing AI agents from the beginning of their careers.

AI Could Change Traditional Finance Career Path

Traditionally, employees in financial and professional services firms start with junior roles focused on research, analysis and other preparatory work. After gaining experience, they move into management positions and begin supervising other employees.

AI could change this structure. According to Sneader, new employees may instead be expected to manage and coordinate AI agents that carry out various tasks.

He said the management role could increasingly move from middle managers to employees on the frontline. However, he added that it remains unclear what will happen to the current group of middle managers as these changes take place.

Goldman Sachs AI Strategy And Future Jobs

Sneader’s comments highlight concerns about how AI automation could reshape jobs in banking and financial services. Goldman Sachs President John Waldron has previously described some of the firm’s operations as a “human assembly line” that could be suitable for automation.

Sandra Peterson, an operating partner at investment firm Clayton, Dubilier & Rice, also said the traditional career ladder in professional services could change. She noted that if AI handles much of the routine work, companies may not need as many entry-level employees as they did in the past.

AI Skills To Become Important For Finance Employees

Singapore’s financial regulator also expects changes in banking jobs. Chia Der Jiun, managing director of the Monetary Authority of Singapore, said operations employees would increasingly need to become supervisors of AI agents.

He also said banks could require fewer fresh graduates for analysis and preparatory work. Singapore is responding by training financial-sector employees in AI skills and working with universities to prepare graduates for changes in the job market.

AI And Jobs: New Opportunities For Young People

Despite concerns about job disruption, Sneader said AI could also create opportunities for young people, particularly entrepreneurs. He said fewer resources are now required to start a business, suggesting that the changing job market could also encourage more people to build new businesses and products.

The comments underline how AI is changing the future of work, particularly in industries where research, analysis and routine professional tasks can increasingly be automated.

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