Blackstone's Jon Gray predicts AI job market winners and losers
Blackstone president Jon Gray outlines how AI could reshape jobs, from booming power sector roles to threatened entry-level tech positions.
Blackstone President Jon Gray presented a stark view of AI's workforce impact during a September investor briefing, comparing the disruption to industrial revolutions of the past. His analysis highlights diverging fates for different professions:
Key Winners
- Power/Energy Sector: Gray altered "The Graduate" film's iconic "plastics" line to "power," emphasizing electricity demand from AI data centers. Blackstone's $100B data center platform (QTS) exemplifies this focus.
- Skilled Trades: Electricians, plumbers, and data center technicians face labor shortages, creating opportunities.
- Investors: AI-related stocks continue hitting record highs, though Gray warned of potential "excesses" and bubbles.
A screenshot from Gray's presentation showing tech leaders' views on AI disruption
Vulnerable Professions
- Entry-Level Tech Jobs: A Stanford study shows hiring declines for young (22-25) software developers and customer service reps since late 2022. Gray cited AI coding tools like Google's Claude as drivers.
- Rules-Based Roles: Accounting, healthcare claims processing, and compliance jobs face automation risks through Blackstone portfolio companies like AGS Health and Norm AI.
Production Shifts
Blackstone demonstrated AI's creative disruption by comparing:
- A $1M traditionally produced commercial
- An AI-generated version costing "a lot, lot less" (Watch comparison)
Gray emphasized AI's rapid adoption—faster than any previous technology—but cautioned that workforce impacts remain in "early days."
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About the Author
Dr. Lisa Kim
AI Ethics Researcher
Leading expert in AI ethics and responsible AI development with 13 years of research experience. Former member of Microsoft AI Ethics Committee, now provides consulting for multiple international AI governance organizations. Regularly contributes AI ethics articles to top-tier journals like Nature and Science.