AI will lead to cuts in human labor, executives admit
New research has found that the implementation of AI tools across business functions is likely to reduce workforces over the next five years.
Adecco’s survey of senior managers from 2,000 major companies around the world hinted at the negative impact of AI on the workforce after many allayed their concerns in recent months, and many more became distracted by the reintroduced office working policy.
According to the report, an alarming two in five (41%) say they expect a reduction in their company’s workforce due to AI.
AI can replace workers, but it’s not the end of the world
The revelation comes as more companies adopt and implement artificial intelligence to streamline their operations and increase efficiency.
More generally, perceptions of generative AI are divided. Many are praising the technology for its ability to generate text, photos and now videos based on natural language prompts, while others have raised concerns about job insecurity.
AI, a fairly new technology, only really started to gain traction when OpenAI launched ChatGPT in public preview in late November 2023. Since then, seemingly hundreds, if not thousands, of AI tools have emerged, designed to tackle a wide range of tasks.
Furthermore, many tech giants have reportedly already started exploring and undertaking layoffs as direct and indirect results of AI.
Despite the very negative outlook and the fact that Adecco’s findings are consistent with those of the 2023 World Economic Forum report, there is some hope. That same WEF report predicted that twice as many people expected AI to create jobs as those who thought the technology would eliminate jobs.
Others are less concerned – despite the promised productivity benefits, many companies are still (seriously) behind in properly adopting AI, with poor data foundations holding them back from going all-in.
All in all, it’s clear that AI won’t simply replace all human workers, and workers will have little to worry about for many years to come and perhaps even future opportunities to look forward to.
Through Reuters