PwC Chief Warns AI Could Reduce Graduate Hiring as Firm Shifts Focus to Tech Talent
The rapid rise of artificial intelligence could reduce the number of entry-level graduates hired in the coming years, PwC’s global chairman Mohamed Kande has said.
Speaking at a business summit in Singapore, Mr Kande acknowledged that automation is changing the firm’s workforce needs, though he stressed that AI was not behind the more than 5,600 job cuts recorded across PwC’s global operations last year.
Instead, he said the firm is struggling to recruit the specialist talent it now needs. “We are looking for hundreds and hundreds of engineers today to help us drive our AI agenda, but we just cannot find them,” he told the BBC.
PwC, one of the world’s Big Four accounting firms, traditionally hires thousands of graduates each year. The company brought in 1,300 new starters in the UK and 3,200 in the US last year alone. But the long-term hiring plans it announced in 2021, which included adding 100,000 staff over five years, are no longer feasible, Mr Kande said.
“When we made those plans, the world looked very different,” he noted. “Now we have artificial intelligence. We want to hire, but I don’t know if it’s going to be the same level of people – it will be a different set of people.”
Professionals across the consulting and auditing sectors have warned that AI could replace thousands of junior roles, particularly positions that traditionally involve reviewing documents and analysing data. These tasks can now be completed in minutes using advanced AI systems.
Despite these shifts, Mr Kande described the AI transition as an “exciting time,” saying the technology will create new categories of work even as it reshapes existing ones.
Beyond hiring, PwC is navigating a period of global economic volatility that has unexpectedly boosted demand for its advisory work. Companies affected by trade tensions – especially those triggered by US President Donald Trump’s expansive tariff policies – have been seeking guidance on how to adapt, Mr Kande said. “It’s been good for us,” he added.
PwC is also working to rebuild its reputation in China after authorities suspended its local operations for six months over failures in its audit of collapsed property developer Evergrande. Regulators accused the firm of overlooking fraud at the company, which had amassed more than $300bn in debt before its downfall.
Mr Kande, who became global chairman after Evergrande’s collapse, said PwC has since overhauled its governance and quality control systems. “My focus has been to make sure nothing like this ever happens again,” he said.
