A quarter of global chief executives expect the deployment of generative artificial intelligence to lead to headcount reductions of at least 5 per cent this year, according to a survey unveiled as world and business leaders gathered in Davos, Switzerland.
Industries led by media and entertainment, banking, insurance and logistics were most likely to predict job losses because of cutting-edge AI tools, according to the poll of top directors conducted by PwC ahead of this week’s World Economic Forum. Engineering and construction firms were least likely to anticipate cuts because of automation, alongside technology companies.
Some 46 per cent of those surveyed said they expect the use of generative AI — systems that can spew out humanlike text, images and code in seconds — to boost profitability in the next 12 months, the survey added. However, 47 per cent said the technology will deliver little or no change.