SPOTLIGHT: Update on AI's impact on the labor market
A survey by the World Economic Forum found that 50% of organizations expect AI to create job growth and 25% expect it to create job losses.
Experts say that although AI could replace a quarter of work tasks in the US and Europe, it also has the potential to create new jobs and prompt a “productivity boom.”
With the help of AI and other emerging technology, 42% of tasks could be automated by 2027, according to a survey by the World Economic Forum.
Read more via BBC, World Economic Forum
“The only thing I am sure of is that there is no way of knowing how many jobs will be replaced by generative AI.”
Boston Consulting Group surveyed nearly 13,000 workers across 18 countries, and across job levels, to hear what workers are saying about AI. Survey respondents are “more optimistic than concerned” when it comes to AI, but challenges remain.
Respondents report increased use of AI.
In 2018, 22% of respondents said their organization was using AI. That figure jumped to 50% in 2023.
46% of respondents say they have “experimented with generative AI,” with 27% saying they “use it regularly.”
The survey identified “vast differences in perceptions of AI between leaders and frontline employees.”
81% of leaders report using generative AI “regularly,” compared to just 21% of frontline workers.
62% of leaders are optimistic about AI, compared to just 42% of frontline workers.
62% of respondents who regularly use AI are optimistic about AI, compared to 36% of nonusers.
Few workers are receiving the training and upskilling necessary for AI.
While 44% of leaders say they have “received training to sharpen their skills and stay relevant,” only 14% of frontline workers say they have received similar training.
Frontline workers aren’t confident their organizations will use AI responsibly.
68% of leaders believe that their organization has an adequate responsible AI program in place, while just 29% of frontline workers agree.
Read more via Boston Consulting Group
According to a new CNBC survey, a quarter of the American workforce believes AI will make their job obsolete. CNBC found that workers’ views on AI vary widely by sector and salary.
24% of workers say they are worried AI will make their job obsolete.
About half of workers in both advertising & marketing and business support & logistics are worried that AI will soon take their job, significantly higher than workers in other sectors.
43% of workers said they “expect their job to change significantly in the next five years due to disruption from AI.”
Workers of color, lower-salaried workers, and young workers are more concerned than their white, older, and higher-paid counterparts.
Only 14% of workers over age 65 said they’re worried about AI making their job obsolete, compared to 32% of workers ages 18 to 24.
19% of white workers voiced concerns about AI, compared to 32% of Black workers, 35% of Hispanic workers, and 38% of Asian workers.
Just 16% of workers who make over $150,000 said they are worried, compared to 30% of workers who earn less than $50,000.
Fully remote workers are more concerned than than in-person colleagues.
54% of fully-remote workers are worried AI will make their job obsolete, compared to 38% of fully in–person workers.
“Even if they aren’t affected yet, many workers are nervous about how different things could be with a greater reliance on AI for tasks that used to be done manually.”
Read more via CNBC
