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Generative AI may reduce employee headcount by at least five percent in 2024, some CEOs say

Business Insider · 1y

According to a recent survey by PwC, some CEOs expect the implementation of generative AI to lead to a reduction in employee headcount by at least five percent in 2024. While CEOs see adopting AI as a way to increase revenues and boost efficiency, these gains may come at the cost of employee jobs. The survey suggests that industries such as media, banking, insurance, transportation, and logistics may be more impacted by AI-related job reductions. However, some experts argue that AI can help workers reduce their workload and focus on higher-value tasks, potentially leading to job retention.