Companies | Business leaders to the FT: Artificial intelligence will lead to job cuts this year

Quarter international business leaders expect the introduction of generative artificial intelligence to lead to at least five percent staff reductions this year, according to a survey by consulting company Pricewaterhouse Coopers, newspaper of the Financial Times by.

Of the industries, the most jobs will likely be cut due to artificial intelligence in media and entertainment, banking and insurance, and the acquisition, storage and transportation of goods. In the technology and construction sector, the effects of artificial intelligence are the least, reported the Financial Times on Monday.

On Monday 46 percent of the business leaders who took part in the survey published in the World Economic Forum estimate that the use of generative artificial intelligence will improve profitability within a year. On the other hand, 47 percent of respondents said that AI will cause little or no change.

The survey is based on interviews with 4,702 business leaders in 105 countries. Its results point to the far-reaching effects that artificial intelligence is expected to have on national economies and societies, the Financial Times writes.

According to the magazine, a survey by Pricewaterhouse Coopers showed that a growing number of managers believe that economic growth will intensify this year, but at the same time, companies are weighed down by the need to respond to revolutionary developments, which in addition to generative artificial intelligence are, for example, climate change.

“As business leaders worry less about macroeconomic challenges, they focus more on the transformative forces in their industries,” said Pricewaterhouse Coopers Chairman Bob Moritz According to the Financial Times.

“Whether it's accelerating the adoption of generative AI or transforming businesses to meet the challenges and opportunities of climate change, this is a year of change.”