AI leads 41% of business leaders to cut jobs in five years – Adecco survey
ZURICH, SWITZERLAND — A major survey has revealed mounting concerns among business leaders about the potential impact of artificial intelligence (AI) on employment.
The global study, conducted by the Adecco Group in partnership with Oxford Economics, found that 41% of C-suite executives plan to reduce their workforce over the next five years due to AI disruption.
It exposed a rush to acquire AI expertise, with 66% of companies intending to hire externally compared to only 34% who will retrain employees.
“Artificial Intelligence is emerging as a great disrupter in the world of work, and the current path is unsustainable,” said Denis Machuel, CEO of the Adecco Group.
“Companies must do more to reskill and redeploy teams to make the most of this technological leap and avoid unnecessary upheaval. Buying your way out of disruption should not be the only approach companies take.”
🌐 Today we launch our latest study, ‘Leading through the great disruption,’ revealing fascinating insights into how global c-suite executives are navigating #AI.
📊 Download the report here 👉 https://t.co/QniJPLcKw3#BusinessLeaders2024 #FutureOfWork pic.twitter.com/mKXoqP6lrl
— The Adecco Group (@AdeccoGroup) April 5, 2024
Other findings include:
- 37% of leaders expect pay for AI roles to “increase significantly” in the next year, far outpacing increases for other white-collar (24%) and blue-collar (9%) positions.
- 57% of executives admitted lacking confidence in their own leadership’s grasp of AI capabilities, while only 43% have formal AI training programs in place.
- 62% of leaders are looking to fill data literacy roles externally, and 60% are hiring for digital literacy.
“It is imperative that leaders not only urgently deploy AI upskilling but also ensure it is implemented safely and responsibly by keeping people firmly at the [center] of this transition,” Machuel added.
The “Leading Through the Great Disruption” report surveyed 2,000 top executives from nine countries, including the United States, the United Kingdom, Germany, Canada, France, Spain, Singapore, Australia, and Japan.
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