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CEOs say generative AI will result in job cuts in 2024 (arstechnica.com)

submitted 10 months ago by [email protected] to c/[email protected]

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And last year they were all saying some variation on "don't worry, AI is not going to cost anyone their jobs."

Key take away for anyone is to never trust what an executive is saying. Much like a politician, if their lips are moving they are probably lying.

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[–] [email protected] 4 points 10 months ago

This is the best summary I could come up with:

A quarter of global chief executives expect the deployment of generative artificial intelligence to lead to headcount reductions of at least 5 percent this year, according to a survey unveiled as world and business leaders gathered in Davos, Switzerland.

Industries led by media and entertainment, banking, insurance, and logistics were most likely to predict job losses because of cutting-edge AI tools, according to the poll of top directors conducted by PwC ahead of this week’s World Economic Forum.

The findings, based on interviews with 4,702 company chiefs spread across 105 countries, point to the far-reaching impacts that AI models are expected to have on economies and societies, a topic that will feature prominently at the annual meetings.

The PwC survey showed that a rising share of executives envisage strengthening economic growth in 2024, but at the same time are exercised by the need to respond to revolutionary developments including generative AI and climate change.

In the shorter term, the study pointed to receding anxiety about the broader outlook, with less than a quarter of directors reporting that their firm is “highly/extremely” exposed to the threat of inflation, a steep drop from last year’s 40 percent reading.

The findings reflect hopes that the worst of the inflationary upsurge that hit economies from 2021 onwards has now passed, and comes amid investor speculation that central banks led by the US Federal Reserve will start cutting policy rates as soon as this spring.

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