Goldman Sachs CEO David Solomon expects people to work longer as AI improves health and lifespans

Goldman Sachs CEO David Solomon expects longer lifespans to lead people to remain in the workforce for longer.

Speaking in a recent interview with NBC News, he said he is most excited about AI’s potential to improve health and extend human lifespans, adding that work provides more than income.

“People also work because it gives them purpose,” Solomon said.

The Wall Street executive said responsibility for managing AI’s impact rests across society. If technological advances disrupt the labor force more quickly, governments and private companies should cooperate on policies and support for workers during periods of transition, he noted.

Solomon said innovation should continue, but companies must also take responsibility for the consequences of new technologies. He added that both public- and private-sector leaders have a role in helping AI address problems, including disease, while managing the risks associated with its development.

On the economy, the Goldman Sachs chief said the US economy had been on track for strong performance before the Iran war, as inflation continued to ease. However, the conflict has weighed on the outlook by pushing up fuel and transportation costs and adding pressure to supply chains.

Solomon said employment and wage growth had remained relatively strong and described the economy as resilient, but cautioned that higher diesel prices would eventually hit consumers as higher costs moved through the supply chain.