A new Deutsche Bank Research survey reveals a stark generational divide in anxiety over artificial intelligence, with nearly one in five Gen Z workers deeply concerned that AI will eliminate their jobs within the next two years. The study, which surveyed 10,000 people across the U.S. and major European economies, found that 24% of adults aged 18 to 34 rated their concern about AI-driven job loss at 8 or higher on a 10-point scale. In contrast, only 10% of Baby Boomers and Gen Xers aged 55 and older expressed similar levels of apprehension.
This widespread concern among younger workers is growing. While 18% of all respondents worry about losing their jobs to AI in the next two years, that figure rises to 22% when considering a five-year timeline. The survey also highlights a geographical gap, with Americans consistently reporting higher levels of concern than their European counterparts.
These fears are substantiated by recent labor market data. Studies from Stanford and Harvard indicate a sharp decline in junior-level employment at firms that have integrated AI into roles like software engineering and customer service, while senior positions have remained stable or expanded. Furthermore, the U.S. Census Bureau reports that the unemployment rate for recent college graduates now stands at 4.8%, surpassing the national average of 4%. Apollo Global Management chief economist Torsten Slok has noted that this trend also shows a growing divergence between young men and women.
Economists offer varying explanations for these trends. Paul Donovan, chief economist at UBS, described the spike in U.S. youth unemployment as “peculiar,” noting that youth unemployment rates in the Euro area are at a record low and have been falling in the U.K. Conversely, Goldman Sachs economist Pierfrancesco Mei points to a long-term decline in “job reallocation” in the U.S. He argues that recent job market “churn” disproportionately affects younger workers, who now take an average of 12 weeks to find a new job in a low-churn state, up from 10 weeks in 2019.
The Deutsche Bank report also finds that corporate training initiatives are failing to keep pace with AI adoption. Only one in four European respondents and nearly one in three in the U.S. reported receiving any formal AI training at work. This has fueled a “shadow AI economy,” where employees engage in self-study to bridge the skills gap, often using AI tools without their employer’s approval.
Despite this proactive adaptation, a fundamental mistrust of AI persists. The survey found that even among regular users, approximately one-third assign low trust scores to AI-generated information, particularly in sensitive areas such as healthcare and personal finance.
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