Communications of the ACM
CEOs Say Generative AI Will Result in Job Cuts in 2024
Most surveyed executives expect generative AI to improve the quality of their products or services in the next 12 months.
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A quarter of global chief executives expect the deployment of generative artificial intelligence to lead to headcount reductions of at least 5 percent this year, according to a survey unveiled as world and business leaders gathered in Davos, Switzerland.
Industries led by media and entertainment, banking, insurance, and logistics were most likely to predict job losses because of cutting-edge AI tools, according to the poll of top directors conducted by PwC ahead of this week's World Economic Forum. Engineering and construction firms were least likely to anticipate cuts because of automation, alongside technology companies.
Some 46 percent of those surveyed said they expect the use of generative AI to boost profitability in the next 12 months, the survey added. A greater portion, 47 percent, said the technology will deliver little or no change.
A growing number of executives are planning to deploy generative AI in the coming months, the survey showed, after 32 percent reported they had adopted it across their company in the past year. Some 58 percent said they expect it to improve the quality of their products or services in the next 12 months, while 69 percent said their employees will need to learn new skills.
From Ars Technica
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