Here’s a head-turner for you all! 😱 The company Adiko recently dropped a bombshell, estimating a whopping 30 million jobs might vanish in the next five years, thanks to AI-based automation. They gathered this insight from the big bosses of major companies across 18 sectors in nine countries.
A stunning 41% of these companies believe job cuts due to AI are inevitable. In this era, where generative AI tech is creating videos, images, and texts that seem almost too real, there’s a silver lining - tasks could become easier and cheaper to complete. However, experts warn this tech marvel might make many employees redundant and a burden to their firms.
AI’s impact will touch all jobs; some will disappear, and new ones will emerge. This worry isn’t new. We’ve been here before with digital technology, fearing job losses. But just like the digital revolution brought in more jobs, there’s a balance expected between jobs lost and new opportunities with AI, says Adiko’s CEO, Daniel Machuyel. Yet, with recent developments, the concern over job cuts has only intensified. Companies like Google and Microsoft focusing on AI chatbots signal that job eliminations might be unavoidable. As AI usage grows, so does the acceptance that job reductions are a part of the future, with experts from Goldman Sachs predicting a global job shrinkage of 30 million. However, Adiko's survey hints we might see this scenario unfold within the next five years.
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