Keep that cover letter handy, as a new study found that half of CEOs are considering the use of AI to replace their employees.
The fear of AI in the workplace is substantial in 2024. With generative AI platforms like ChatGPT hitting the market with force last year, the threat of layoffs in the face of automation has reached a peak.
Unfortunately, a new survey isn't helping, showing that a lot of CEOs are planning to utilize the technology in service of getting rid of jobs at their companies.
Study: 50% of CEOs Believe AI Will Displace Labor at Their Companies
A new survey from The Conference Board explored a wide range of business trends, including everything from talent acquisition and inflation stress to supply chain adjustments and long-term growth.
However, the section on artificial intelligence has raised some red flags with those concerned about job displacement, particularly one statistic that doesn't bode well for the future of work.
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“Half of CEOs and 51% of C-Suite executives believe AI will displace labor in their organizations, creating significant challenges for talent management.”
It's important to note, however, that while 50% is a high number when it comes to CEOs that plan to replace jobs with AI, it is not the primary focus for the technology. In fact, as the survey below shows, job displacement is one of the least important impacts of AI, with additional training (94%) and increased productivity of labor (91%) at the top.
AI Adoption in the Workplace
CEOs may talk a big game when it comes to displacing jobs with AI, but how many of them are actually adopting the technology into their businesses in 2024?
Well, the survey found that the overwhelming majority is at least exploring the possibility of adding AI infrastructure to their businesses, with many already adopting the technology into all business operations.
Most notably, only 9% of global CEOs stated that they have no plans to adopt AI technology into their business practices, which means that this wave of advancement is definitely coming, whether you like it or not.
Attitudes Towards AI in the Workplace
While CEOs and C-Suite executives may feel one way about AI in the workplace, it's safe to assume that employees have their own opinion about how the technology will impact their jobs.
Despite the threat of displacement, the majority of employees are either neutral or entirely on board with the idea of using AI in the workplace. In fact, our research found that 59% of employees who use AI at work have greater job satisfaction than those that don't.
Still, because AI advancement is still in its infancy, the impact on jobs has still likely not been fully realized. For the time being, employees and CEOs alike are jumping on the AI bandwagon with both feet.