Loaded human FTE cost ($90K-$180K all-in for typical knowledge work) vs total agentic-AI operational cost (token plus orchestration plus integration plus observability plus human oversight) does not favour replacement at parity in 2026 for most roles; the math works for narrow, high-volume, low-judgment task categories and breaks down where regulatory accountability, customer trust, or judgment-under-ambiguity is load-bearing.

Spine is observable from current public deployment cost data and labour-displacement research. Per-category quantitative bands tracked against next review cycle.