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January 17, 2025- by Steven E. Greer, MD
The Goldman Sachs CEO recently stated at the Cisco AI Summit that Artificial Intelligence software (“AI”) can replace most jobs currently performed by investment bankers. “Solomon, Goldman’s chief since 2018, also spoke about the impact AI would have on his company’s businesses and those of his clients. The bank now has 11,000 engineers among its 46,000 employees, according to Solomon, and is using AI to help draft public filing documents. The work of drafting an S1 — the initial registration prospectus for an IPO — might have taken a six-person team two weeks to complete, but it can now be 95 per cent done by AI in minutes. The last 5% now matters because the rest is now a commodity.”
At the same time as this AI revolution is taking place, President Trump is going to bring back real manufacturing jobs. That booming economy will drive demand for single-family homes again.
Any job that involves a technical skill, such as plumbers, electricians, HVAC repair, landscaping, surgery, etc. be in demand. Those small businesses, usually sole proprietors, can turn into large profitable companies. Private equity companies have been buying them and rolling them into larger service companies.
People with expensive medical degrees will be replaced by AI as well. Only surgeons and dentists with hands-on skills will be needed. Try using Grok AI to diagnose a medical ailment. It does a stellar job.
Lawyers are not safe. While many lawsuit complaints can be duplicated as boilerplates, to write a proper memorandum of law brief still requires a human brain. I have litigated extensively for more than a decade. AI is nowhere close to being able to do that. Nevertheless, the majority of lawyers will be made obsolete because what they do now is lazy work.
Accountants will be totally useless. Grok can perform stunningly complex math equations based on verbal questions. When AI is configured to with with spreadsheets, the accountant will be the dinosaur (Trump might even eliminate taxes altogether.).
The paradigm for getting very wealthy now has flipped. It is no longer the people with useless college educations who want to go into Finance or Law. The new millionaires will be people who have hands-on skills that AI robots cannot displace and disrupt.
We might be seeing a new Gilded Age under Trump like the era from 1870 to 1890. That was the peak of the Industrial Revolution. People were needed for manufacturing, etc. AI will be creating a similar demand for hands-on skilled labor.
The way to get rich in 2025 is to scale up some hands-on trade job. In contrast, the useless money managers will likely lose a lot of money this year. I predict a stock market implosion while the real economy booms.