99% of CEOs Expect AI-Driven Layoffs in the Next Two Years
A recent survey indicates that 99% of CEOs anticipate layoffs driven by AI initiatives within the next two years. The report highlights a growing concern among young workers, as many companies are expected to focus layoffs on early-career positions. This trend has led to increased anxiety and skepticism about AI among various age groups, particularly Gen Z.
- ▪99% of CEOs expect AI-driven layoffs in the next two years according to Mercer's Global Talent Trends report.
- ▪Most executives believe that incorporating automation will yield the greatest return on investment, but only 32% think the workforce can effectively combine human and machine capabilities.
- ▪The anticipated layoffs are expected to primarily affect early-career positions, as AI is best suited for automating simpler tasks.
- ▪Young workers are experiencing the worst job market since the pandemic, leading to feelings of disillusionment about AI and their futures.
- ▪Researchers are proposing the term 'AI replacement dysfunction' to describe the anxiety workers feel over potential job displacement due to AI.
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Virtually all CEOs surveyed in a recent study said they expect corporate AI initiatives to lead to layoffs within the next two years. According to consulting firm Mercer’s Global Talent Trends report, 99% of CEOs are prepared for AI-driven layoffs in the short term. The report says that most executives believe redesigning work to incorporate automation will drive the greatest return on investment, but only 32% said they believed the workforce can optimally combine both human and machine…
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