Sick workers

AI Will Shrink Workforces Within Five Years, Say Company Execs

A recent global survey conducted by Swiss staffing firm Adecco Group, in collaboration with research firm Oxford Economics, highlights executives’ expectations regarding the impact of artificial intelligence (AI) on employment over the next five years. The survey of 2,000 C-suite executives from 18 industries across nine countries revealed that 41% anticipate a reduction in their workforce due to AI implementation.

Denis Machuel, CEO of Adecco Group, emphasized AI’s role as a significant disruptor in the world of work and urged companies to prioritize re-skilling and redeploying teams to harness the potential of this technological advancement and minimize disruption.

While 46% of executives plan to redeploy affected employees internally, two-thirds intend to recruit individuals with AI skills rather than invest in training existing staff. However, these findings contrast with a previous survey by the World Economic Forum, indicating that while some job losses may occur due to AI, overall, most technologies, including AI, are expected to have a net positive impact on job growth.

Despite this optimism, recent layoffs attributed to AI implementation in tech firms like Dropbox and Duolingo, coupled with projections from Goldman Sachs economists suggesting substantial job losses globally, underscore the pressing need for proactive measures to mitigate the potential adverse effects of AI integration on the workforce.

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