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At least 4 out of 10 companies around the world are likely to cut jobs artificial intelligence (AI) continues to advance, new research shows.
A more recent World Economic Forum (WEF) survey “Report on the future of employment,” found that due to the “increasing capability and prevalence” of AI, 41 percent of employers surveyed said they will reduce their workforce in the next five years if technology is able to replicate work .
“As we enter 2025, the work landscape continues to evolve at a fast pace. Transformational advances, particularly in generative artificial intelligence (GenAI), are reshaping industries and tasks across sectors,” WEF Managing Director Saadia Zahidi said in the report.
“These technological advances, however, are converging with a wider range of challenges, including economic volatility, geo-economic realignments, environmental challenges and evolving societal expectations,” he added.
The WEF survey also found that 77 percent of employers surveyed said they will adopt the strategy of “reskilling and upskilling” their existing workforce to work alongside artificial intelligence.
AI has captured the world’s attention in recent years, with the product launch com OpenAI’s ChatGPT in November 2022, shaking up preconceived notions about how it can be used in the workplace.
In a survey published last fall From the New York Federal Reserve’s Liberty Street Economics blog, 43% of Americans said they believe generative AI tools will cut jobs as technology advances.
The “Future of Jobs Report” survey included research from 1,043 companies, compiled between May and September.
