TCS study reveals optimism for AI-driven workplaces
MUMBAI, INDIA — Tata Consultancy Services (TCS), a global IT services, consulting, and business solutions organization, has released a comprehensive study that reveals widespread optimism among futurists, executives, and foresight professionals regarding the impact of Generative AI (GenAI) on the future of work.
The study, titled “Working Towards the Future,” shows that 90% of respondents are optimistic about GenAI’s potential to reshape work dynamics, with 40% being “very optimistic.”
AI will also pave the way for hybrid and remote work, according to 70% of respondents. In fact, futurist Gray Scott sees a three-day workweek in the next 15 years if this pace of AI development continues.
“If AI is used properly it should enlighten humanity… It will enable us to work much faster and more efficiently, [and] shorten the workload and the time it takes to complete tasks,” he said.
JPMorgan Chase CEO Jamie Dimon and Nobel Prize-winning economist Christopher Pissarides previously said that GenAI tools like ChatGPT could justify a shorter workweek.
Autonomy also suggested that the technology may allow 30% of employees in the United Kingdom and the United States to transition to a four-day workweek by 2033.
Another key insight from the TCS study is a drastic transformation in the nature of all entry-level jobs, as foreseen by 90% of participants.
“AI will replace most [entry-level] jobs,” said Gayemarie Brown, Managing Director and Founder of Wintam Place Consulting.
“We will need to completely overhaul our education systems and work place assumptions so that we begin internships at a much younger age and think about how we accelerate learning.
TCS identified the sectors poised for early positive transformation brought by AI, including marketing and communications, healthcare and education, banking and finance, and IT.
Additionally, 75% of respondents believe that AI adoption will enable small businesses to venture into new markets and attract a wider customer base.
Survey participants also believe that AI has positive contributions to employee health and wellness (72%), as enterprise apps already exist to help employees self-monitor and manage stress and mindset.
These sentiments counter the growing trend of techno-pessimism sparked by recent advancements in AI. The “Godfather of AI” Geoffrey Hinton and former Yahoo chief Marissa Mayer already sounded the alarm on the technology, with Goldman Sachs’ warning that 300 million jobs globally will be affected due to automation.
“A techno-pessimist is likely to believe that modern technology has created as many problems for humanity as it has solved,” Frank Diana, a global consultant for TCS, explained in a blog.
TCS ranked #45 on the OA500 2024, an objective index of the world’s top 500 outsourcing firms. The latest index puts TCS five places higher than last year when it ranked 50th.
