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Labor market impacts

A collection of 15 posts

AI to Replace 200,000 Roles in European Banking Industry

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AI to Replace 200,000 Roles in European Banking Industry

More than 200,000 European banking jobs could vanish by 2030 as lenders lean into AI and shutter physical branches, according to a Morgan Stanley analysis reported by the Financial Times. This represents approximately 10 per cent of the workforce across 35 major European banks. The banks in the analysis

AI-Generated ‘Workslop’ Costs Companies Millions in Productivity Losses Each Year

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AI-Generated ‘Workslop’ Costs Companies Millions in Productivity Losses Each Year

A 2025 study shows that low-quality AI-generated materials – labelled as “workslop” – are undermining teamwork and causing substantial financial losses. Researchers found that poorly produced texts, presentations, and reports often require double-checking, resulting in direct productivity losses worth several million dollars annually for large enterprises. The analysis highlights that AI outputs

World Economic Forum Says 78 Million New Jobs by 2030 but Urgent Reskilling Needed

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World Economic Forum Says 78 Million New Jobs by 2030 but Urgent Reskilling Needed

The World Economic Forum’s (WEF) Future of Jobs Report 2025 projects that around 78 million new jobs could be created globally by 2030, but warns that workforce reskilling remains an urgent challenge. Published in January 2025, the report highlights how artificial intelligence, the green transition, and digital technologies are

Amazon Tests New Warehouse Robots and AI Tools to Transform Workflows

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Amazon Tests New Warehouse Robots and AI Tools to Transform Workflows

Amazon announced it is testing a new generation of warehouse robots and AI-powered tools designed to boost productivity and streamline workflows. According to the company, these innovations are meant not only to accelerate goods handling but also to support workers, while experts warn about the significant risk of large-scale job

World’s Largest YouTube Creator Says Sora 2 Threatens Content Makers’ Livelihoods

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World’s Largest YouTube Creator Says Sora 2 Threatens Content Makers’ Livelihoods

On 6 October 2025, Jimmy Donaldson, better known as MrBeast, warned that OpenAI’s Sora 2 video generator signalled “scary times” for the creative industry. According to Forbes’ 2025 ranking, MrBeast is the world’s top YouTube creator with US$85 million in annual revenue and 634 million followers, giving

OpenAI Launches GDPval: A New Metric for Evaluating AI Models on Real-World Tasks Across 44 Professions

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OpenAI Launches GDPval: A New Metric for Evaluating AI Models on Real-World Tasks Across 44 Professions

On 25 September 2025, OpenAI introduced GDPval, measuring AI models on economically valuable, real-world tasks across 44 occupations in nine sectors that each contribute over 5% to U.S. GDP. The aim is to move from synthetic exams to authentic work deliverables (e.g., legal briefs, engineering blueprints, nursing care

OpenAI Is Building an AI-Powered Jobs Platform to Rival LinkedIn

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OpenAI Is Building an AI-Powered Jobs Platform to Rival LinkedIn

OpenAI announced the development of the OpenAI Jobs Platform in September 2025, which will use AI technology to connect qualified candidates with companies, positioning itself as a direct competitor to Microsoft's LinkedIn platform. The platform is expected to launch by mid-2026 and will not only serve large companies:

Europe's New Economic Challenge: AI-Driven Labour Market Transformation

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Europe's New Economic Challenge: AI-Driven Labour Market Transformation

The European Commission's Strategic Foresight Report, published on 9 September 2025, places the concept of Resilience 2.0 at its core, aiming to prepare Europe for rapid changes, with particular emphasis on AI-driven labour market shocks. The dramatic acceleration of technological development is well illustrated by European Commission

The Paradox of Algorithmic Management in Hungary: Increasing Transparency While Reshaping Worker Agency

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The Paradox of Algorithmic Management in Hungary: Increasing Transparency While Reshaping Worker Agency

Algorithmic management (AM) has become a key research focus in the sociology of work, especially concerning platform work, but is increasingly spreading to traditional workplaces. A recent study by Csaba Makó, Miklós Illéssy, József Pap, Éva Farkas and László Komlósi, published in the Journal of Labor and Society under the

AI Is Fundamentally Reshaping the Consulting Profession: McKinsey Repositions Its Role Amid Workforce Reductions and the Large-Scale Deployment of AI Tools

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AI Is Fundamentally Reshaping the Consulting Profession: McKinsey Repositions Its Role Amid Workforce Reductions and the Large-Scale Deployment of AI Tools

One of the world's largest consulting firms, McKinsey & Company, is confronting a serious challenge as AI increasingly demonstrates the ability to perform traditional consulting tasks faster and at lower cost. Kate Smaje, a senior partner leading McKinsey's AI initiatives, acknowledged to The Wall Street Journal

Goldman Sachs: AI Is Putting Gen Z Tech Jobs at Risk

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Goldman Sachs: AI Is Putting Gen Z Tech Jobs at Risk

The American labour market is already being significantly influenced by generative AI, with young technology sector workers being the first casualties of this impact, according to Joseph Briggs, Senior Global Economist at Goldman Sachs. The unemployment rate for tech workers aged 20-30 has increased by 3 percentage points since early

Half of Managers Use AI to Determine Who Gets Promoted and Fired

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Half of Managers Use AI to Determine Who Gets Promoted and Fired

Nearly half of American managers are employing artificial intelligence to make critical personnel decisions, while 78% of employees express concern about this practice. According to research conducted by ResumeBuilder.com between June 14-20, 2025, 48% of managers use AI tools to determine who gets promoted or terminated. The survey, which