A recent survey of managers has revealed that 41% are considering replacing workers with cheaper AI tools by 2024. This alarming statistic comes as previous reports have predicted that over 2 million US jobs could be replaced by AI by 2030.
In addition, 48% of managers believe that their businesses would financially benefit from replacing employees with AI, with 40% thinking that multiple employees could be replaced without issue. Furthermore, 45% see AI as an opportunity to lower employee salaries due to less human-powered work being needed.
The survey also found that 62% of managers said their employees fear that AI tools will cost them their jobs, while 66% fear that these tools will make them less valuable at work by 2024. Additionally, 50% of managers are worried that AI tools will result in lower pay for management positions.
Despite the concerns raised by the survey, 60% of managers who have incorporated AI in the workplace see it as a positive and productive addition to their job functions. However, the number of managers looking to replace employees with AI has significantly reduced since 2023.
Many layoffs in the tech industry since 2023 have been attributed to the adoption of generative AI, with companies like Beautiful.ai pushing the ‘collaborative’ angle in their products. Despite these challenges, the report notes some positive outlooks on AI integration in the workplace.
Overall, the survey highlights a growing trend of managers looking to AI tools to increase productivity and cut costs, raising concerns about the future of the workforce and the potential for wage declines across the country.
