published by the Pew Research Center in July 2023 indicated that in 2022, “19% of American workers were in jobs that are the most exposed to AI, in which the most important activities may be either replaced or assisted by AI.” What’s more, a June 2023by outplacement firm Challenger, Gray & Christmas found that in May 2023, 3,900 jobs were cut due to AI. On the flip side,Business leaders shouldn’t approach AI from these two extremes.
Business leaders should not approach AI with an “us versus them” mentality. As the saying goes, “If you can’t beat them, join them.” Think about this: When your industry is being disrupted, who better to take the helm than you? However, some business leaders have jumped to the other extreme, using AI to replace employees. Companies are generally trying to reduce costs and grow simultaneously. With AI in the mix, there’s arguably greater tension between these two goals—executives might be inclined to view AI as a quick cost-saving measure. But this, in my view, is not the answer in many cases. Over-reliance on AI could hinder or dismantle critical business functions.
When employees can skip the repetitive parts of their roles and accomplish specific tasks faster, they have greater leeway to develop and implement the ideas that will usher in the next wave of innovation.
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