Find our latest Insights on the markets and investing here: https://pwm.gs.com/nam/en-us/insights/markets-and-investing?gsid=10643&cmp=PIA&chl=og&plt=yt&obj= The transition to an AI-driven economy represents a multi-decade structural shift rather than an overnight revolution. Sharmin Mossavar-Rahmani, chief investment officer of Wealth Management and head of the Investment Strategy Group (ISG), and Jan Hatzius, chief economist and head of Global Investment Research, cut through the noise to deliver a data-driven reality check on AI’s impact on US economic growth, productivity, and the labor market. They uncover why investors may need to balance near-term hype with long-term potential and argue that the US unemployment rate should remain stable over the next decade as AI creates new jobs to offset displacement. Recorded on August 13, 2026. This video is intended for educational purposes only and is provided solely on the basis that it will not constitute investment advice and will not form a primary basis for any personal or plan’s investment decisions. While it is based on information believed to be reliable, no warranty is given as to its accuracy or completeness and it should not be relied upon as such. Information and opinions provided herein are as of the date of this video only and are subject to change without notice. Goldman Sachs is not a fiduciary with respect to any person or plan by reason of providing the video herein. Information and opinions expressed by individuals other than Goldman Sachs employees do not necessarily reflect the view of Goldman Sachs. Information and opinions are as of the date of the event and are subject to change without notice. This video represents the views of the Wealth Management Investment Strategy Group and is not a product of Goldman Sachs Global Investment Research (GIR). It is not research and is not intended as such. The views and opinions expressed by ISG may differ from those expressed by GIR, or other departments or businesses of Goldman Sachs. Past performance is not indicative of future results which may vary. Forecasts expressed are based on material assumptions subject to change, and should not be interpreted as providing guarantees. Any geopolitical, economic, or market views expressed during this call constitute the opinions of the speakers as of the call date and should not be relied upon as predictions or guarantees of future events. This video is furnished for informational and educational purposes only and does not constitute investment, legal, tax, or accounting advice, nor a recommendation to take or refrain from any action. © 2026 Goldman Sachs. All rights reserved.

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