Chief executives of large companies around the world appear convinced that generative AI will lead to a workforce trim of at least 5%.
Many CEOs see AI adoption as an inevitability, linking the technology to productivity boosts, according to a PwC’s survey of nearly 5,000 chief executives.
The report points to increasing concern among business executives, who doubt their organizations can survive the next decade without significant technological transformation.
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Compared to last year’s survey, there’s a stark rise in concern: 45% of respondents now believe their businesses will be unsustainable in the next decade without adapting to new technological realities.
The AI revolution comes with its own set of hurdles, however. While over 50% of CEOs acknowledge AI’s potential to boost productivity and services, implementing it effectively requires careful planning and execution.
Many CEOs expressed concerns about upskilling their workforce to handle the new technology. Additionally, regulatory hurdles in certain countries pose further challenges for businesses eager to streamline operations with AI.
Despite the potential job losses, the survey also reveals positive trends. Around 32% of respondents assured they are already adopting AI across their companies.