ETN News Service, June 6 — Independent credit rating agency Egan-Jones released a research report indicating that as the quality and computational efficiency of AI models improve, capital markets and labor markets are entering a new phase of structural adjustment. High-paid white-collar jobs including law, consulting, and investment banking may be affected first, with potential further ripple effects on software services, venture capital, and real estate markets.

    Egan-Jones believes industries that charge based on billable hours or professional services are relatively more vulnerable to AI disruption, including law, investment banking, engineering, and auditing. Tasks that previously required substantial professional manpower for data compilation, analysis, and document preparation can now be partially handled by AI, prompting companies to reassess staffing needs and service pricing.

    Additionally, the software industry is also facing a shift in business models. The report notes that traditional cloud-based software services (SaaS) have relied on users completing tasks through menus, forms, and graphical interfaces. However, with the rapid adoption of generative AI and conversational interfaces, users may increasingly accomplish more tasks directly via natural language.

    Changes in the job market could also impact the property market. Egan-Jones analysis suggests that some households heavily rely on dual incomes to service mortgage payments; if white-collar job opportunities shrink and incomes are affected, housing demand may be suppressed in the short term, exerting price pressure on certain real estate markets.(rc)