Jensen Huang, CEO of Nvidia Corp. (NASDAQ: NVDA | NVDA Price Prediction), told Fortune, “Some jobs will be obsolete, but many jobs are going to be created. … Whenever companies are more productive, they hire more people.” That puts him on one side of a raging debate about the future of artificial intelligence and its impact on humanity. Some estimates put AI job losses into the millions.
Huang’s opinion counts a lot. His company’s chips power much of the AI revolution, and the world’s largest tech companies—led by Microsoft, Amazon, and OpenAI—are driving much of this change. Microsoft is planning to cut thousands of jobs, for example. The company has said that AI makes some parts of the company more productive.
The most extraordinary estimate about AI-driven job loss is from Goldman Sachs. In a research report titled “The Potentially Large Effects of Artificial Intelligence on Economic Growth,” the investment bank’s researchers wrote after it looked at a broad number of jobs across the world, “Extrapolating our estimates globally suggests that generative AI could expose the equivalent of 300mn full-time jobs to automation.”
There are already signs that AI has become critical to some industries. AI programs can write many software programs. At some law firms, AI writes versions of some appeals and does rapid research. There may also be an impact on medical research.
There was the other half to Huang’s statement: the creation of new jobs. The World Economic Forum’s (WEF’s) “Future of Jobs Report 2025” looked at 1,000 companies covering 22 industries and 55 economies. They employ more than 14 million people.
Sustainability magazine reports that the WEF report, “anticipates that by 2030, AI and other information processing technologies will transform 86% of businesses, sparking the creation of 170 million new roles worldwide while making 92 million existing jobs redundant.” This research also examined which sectors will be most affected. While automation will come to many jobs, those that include engineering are expected to grow.
The debate about AI and its impact on the workforce is still in its early stages. Huang knows a great deal about its future, but not enough to make an accurate forecast.
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