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Artificial intelligence (AI) is projected to eliminate 20 to 30 million American jobs by 2035, as it continues to disrupt various industries, including administrative support, customer service, fast food, and transportation. Current U.S. payroll employment stands at approximately 160 million jobs, indicating a potential loss of up to 25% of the workforce, which would destabilize the economy.
Research from institutions such as OpenAI and Goldman Sachs identifies high-risk roles that could see mass automation, impacting about 15 million jobs in the immediate future and an additional 8 to 12 million jobs in medium-risk categories. The ramifications of these job losses could lead to systemic economic failure, as consumer demand collapses, tax revenues diminish, and political instability increases.
Economically, the wealth gap is set to widen, with the top 10% of households poised to greatly benefit from AI advancements, expected to see their wealth rise from $112 trillion to $292 trillion by 2035. Meanwhile, the middle class may face a net worth decline, projected to shrink by $5 trillion over the same period, highlighting a potential “Wealth Singularity” where capital replaces labor.
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