A growing number of business leaders anticipate that productive artificial intelligence will reshape workforces by 2024, with at least a 5% headcount reduction in many organizations. This trend is reflected in a PwC survey posted on the firm’s official site, which tracks executive opinions on AI’s role in the workplace.
The timing of the PwC study aligned with the World Economic Forum gathering in Davos, Switzerland from January 15 to 19. Attendees included 4,702 business managers representing 105 countries, offering a broad view of how AI is perceived across different markets.
Findings from senior executives indicate that automation will most affect sectors such as media and entertainment, financial services including banking and insurance, and logistics. In contrast, workers in engineering, construction, and many tech companies are viewed as less likely to be displaced by automation in the near term.
Looking ahead, one-third of respondents expect AI tools to be implemented in their organizations by 2023. Roughly 58% anticipate that neural networks will enhance the quality of their products or services within the current year. A majority, around 69%, also expect that employees will need to learn new skills to work effectively with AI technologies.
Nearly half of survey participants believe productive AI use will boost company profitability over the next year. Yet, a comparable share—about 47%—think the impact will be modest or minimal. These mixed views reflect both the opportunities and the challenges that come with integrating AI into business processes.
In related commentary, estimates from the IMF have noted the potential influence of artificial intelligence on the global labor market, emphasizing that technology adoption can change job demand patterns across regions and industries.