Embrace AI tools even if some jobs change or are lost, say global business leaders
Three quarters expect job displacement from AI, but most say innovation is more important than protecting existing roles
Sydney, Australia - 17 Sept 2024: Nearly nine in ten business leaders globally (89% vs 88% in Australia) expect AI to change some office jobs, with over three quarters (77% vs 76% in Australia) expecting such roles to be replaced, finds newly published research from BSI. This comes amidst widespread optimism about the positive impact of AI-tools on productivity and recognition amongst (76% vs 75% in Australia) that companies will be at a competitive disadvantage if they don’t invest in them.
BSI’s report, Evolving Together: Flourishing in the AI Workforce, examines AI’s prospective impact on work. Amongst 932 business leaders across nine countries, (72% vs 78% in Australia) say AI tools should be embraced even if some jobs change or are lost as a result and approximately two thirds (65% vs 70% in Australia) agree innovation is more important than protecting existing jobs. Notably, the business leaders polled by BSI were more inclined to see AI as an opportunity than a risk, with (73% vs 76% in Australia) seeing the matter in this way. 38% of Japanese business leaders, 35% in France, and 34% in the UK took a different view, saying that AI was more of a risk for individual employees than an opportunity.
Over half (55% vs 53% in Australia) of respondents globally expect AI to be used in the next five years to improve productivity and efficiency, rising to 62% in the US, 64% in China and 65% in India. A quarter globally (vs 27% in Australia) expect AI to reduce reliance on external contractors, while 84% (vs 84% in Australia) are optimistic about the creation of specialist roles in AI transformation, training or innovation. This figure rose to 95% in India and 92% in China.
Kate Field, Global Head, Human and Social Sustainability, BSI said: “The world of work is changing, shaped by demographic shifts bringing growing age diversity alongside new attitudes and expectations of when, how and where work is done. AI-powered technologies have the power to transform the way we work across all sectors and markets, and we can expect them to shape how companies recruit staff, manage performance, train employees and more.
“AI, used effectively, has the potential to enhance diversity, transform line management and facilitate a more flexible way of working. At the same time, it is vital that we consider how to retain human creativity, ingenuity, critical thinking, and collaboration. We can use AI to enhance efficiency and productivity, and if we pair it with human insight, empathy, and compassion, we can strengthen organizational culture and foster greater innovation.”
Manual roles are also expected to be shaped by AI, with nearly three quarters (72% vs 74% in Australia) expecting some to be replaced, likely by AI and robotics together. Yet 72% also say AI tools should be embraced even if some jobs change or are lost as a result, although this varies radically by country, with just 64% of Britons agreeing compared with 78% of Australians. Globally, (65% vs 70% in Australia) say innovation is more important than protecting existing jobs, rising to 88% in China.
With nine in ten (91%) saying their business will invest in AI in the next five years, the report looks at the prospects for AI to be used in management, job redesign, training and recruitment, finding that even now two thirds globally say their organization is using AI tools to support candidate recruitment process (67% vs 72% in Australia) and a higher proportion are aware of their business using AI to support any aspect of performance management. Despite this, HR is not one of the functions expected to be most impacted by AI, with only 39% saying they anticipate this, compared with 56% for operations, 54% for marketing and 45% for sales.
Training is identified as being key, with three quarters (74% vs 82% in Australia) saying that if people do not have the skills to manage AI tools this will have a negative impact on their career progression, although this falls to 49% in Japan. The role of reverse mentoring is highlighted, with (85% vs 91% in Australia) backing a system in which members of the team who have experience with AI support less experienced colleagues. Overall three quarters of businesses are offering some form of training (76% vs 83% in Australia) but only a third are aware of a significant amount of formal or informal training being offered by their firm to guide employees in how to use AI tools safely, ethically and effectively and manage risk. Despite this, (78% vs 79% in Australia) of leaders say their business should be doing more to build trust in AI amongst employees. China (94%) and India (90%) lead in offering comprehensive training, while Japan (52%) and the UK (59%) lag. In the UK, 17% of businesses offer no AI training at all.
Currently, only (30% vs 31% in Australia) of businesses have AI deployment as a board-level priority. Just (17% vs 20% in Australia) have a Chief AI Officer or equivalent, while (24% vs 25% in Australia) of businesses have no formal AI strategy in place. Yet there is a clear opportunity for businesses to show leadership, with approximately four in five (78% vs 79% in Australia) saying business should be doing more to build trust in AI amongst employees. (81% vs 80% in Australia) also say businesses have a responsibility to ensure the gains from incorporating AI are shared across society.
BSI’s research draws together four key takeaways exploring how business leaders can act to shape trust in AI across their ecosystems and wider society, so AI can be realized as a force for good. These include:
- AI in performance management: Use AI to strengthen performance management and boost organizational culture – paired with human insight, emotional intelligence and critical thinking
- Diversity, inclusion and recruitment: Leverage AI to recruit a more diverse candidate pool – while ensuring that the underlying culture of the organization also develops to support this
- Job design: Consider how AI could help job redesign to enhance flexibility and boost productivity
- Training: Prioritize delivery of continuous AI training while recognizing that this alone does not guarantee competency
- Corporate Governance and Trust: Build trust by engaging employees on every step of the AI journey
The full report can be read here. Kate Field is available for interview.
