Seven in ten employers eye AI, robotics adoption: Transamerica Institute
CALIFORNIA, UNITED STATES — A new report from the Transamerica Institute and its Transamerica Center for Retirement Studies (TCRS) reveals that 72% of U.S. employers either use or plan to use robotics or artificial intelligence (AI) to augment their workforce.
The findings, based on a survey of 1,893 for-profit employers between September 17 and October 4, 2024, underscore how technological advances and demographic shifts are reshaping business practices and employee benefits.
“Employers are navigating a dynamic environment filled with both opportunities and challenges,” said Catherine Collinson, CEO and president of Transamerica Institute and TCRS.
“The confluence of megatrends, such as the use of AI, population aging, and labor shortages, are reshaping the future of work.”
Technology drives change, but workforce concerns remain
While AI and robotics promise greater productivity and new business models, 43% of employers believe their employees are worried that their skills may become obsolete.
Among those adopting or planning to adopt advanced technologies, 92% foresee significant workforce implications-including job transformation (68%), new job creation (53%), and some job elimination (35%).
Despite 85% of employers feeling responsible for helping workers update their skills, less than half (44%) list talent development as a top priority.
Collinson noted, “Employers’ visions for integrating these technologies have not fully translated into action plans for their workforce. But the message for workers is clear: Do your best to keep pace with changes that could affect your employability and identify alternative pathways, if needed.”
Multigenerational workforce presents untapped opportunities
The report highlights the aging U.S. workforce, with nearly one in four workers now age 55 or older. From 2023 to 2033, workers aged 65 and above are projected to be the fastest-growing segment. However, only 26% of employers with job openings last year gave significant consideration to applicants aged 50 and older.
“The U.S. population is rapidly aging and so is its workforce. Amid current labor shortages, employers may be overlooking an opportunity to expand their talent pool to include older workers,” said Collinson.
“To tap into this opportunity and attract and retain employees, employers must recognize the needs of workers of all ages and life phases.”
Best practices include offering mentorships, job training, flexible work arrangements, and support for caregivers.
Benefits and retirement security in focus
As competition for talent intensifies, 53% of employers cite compensation and innovative benefits as key priorities. The most common offerings are health insurance (65%), 401(k) or similar plans (60%), and life insurance (43%). However, the report suggests employers could do more, especially in enhancing retirement benefits, given new opportunities under the SECURE 2.0 Act of 2022.
