Latest news with #AI-exposed
Time of India
8 hours ago
- Business
- Time of India
Amid job loss fears due to automation, a shocking new report reveals how AI is actually making workers ‘more valuable'
As anxiety mounts over artificial intelligence (AI) threatening jobs and wages, a groundbreaking new study by professional services giant PwC turns the narrative on its head. Contrary to fears that AI will lead to widespread layoffs and wage suppression, the research shows that AI is making workers more valuable — boosting both employment and pay across industries. The Speed of AI Innovation: A Double-Edged Sword? Joe Atkinson, PwC's Global Chief AI Officer, emphasizes the unprecedented pace of AI advancements. Speaking to CNBC Make It , Atkinson noted, 'The tech innovation is moving really, really fast — faster than anything we've ever seen.' Yet, instead of causing disruption through job losses, AI is creating new roles and opportunities. 'What the report suggests, actually, is AI is creating jobs,' he said. Jobs and Wages Climb in AI-Exposed Occupations The 2025 AI Jobs Barometer report, analyzing over 800 million job ads worldwide, reveals a surprising trend: jobs and wages are growing in nearly every role where AI can be applied. This includes occupations considered highly automatable, such as customer service and software development. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Gel Makes Mold Disappear Like Magic CleanLix Learn More Undo Carol Stubbings, PwC UK's Global Chief Commercial Officer, highlights a crucial challenge — not the loss of jobs but the evolving skillsets required. 'Workers need to be prepared to take the new jobs that AI is creating,' she said. The report warns against complacency, urging workforce adaptation as the key to thriving alongside AI. — KirkDBorne (@KirkDBorne) Busting the Biggest AI Myths PwC's extensive research debunks six common misconceptions about AI's impact on the labor market. Far from stagnating productivity, industries most exposed to AI have seen productivity growth nearly quadruple since 2022. Contrary to fears of wage suppression, workers with AI skills earn on average 56% more than their peers without those skills—a significant rise from 25% last year. You Might Also Like: As AI redefines engineers' roles, Cisco CPO Jeetu Patel reveals 'grossly underestimated' skills needed for the future Even the myth that AI reduces overall job numbers doesn't hold up. Occupations less exposed to AI grew by 65% from 2019 to 2024, while AI-exposed jobs still posted a robust 38% growth. Furthermore, the report finds AI does not worsen inequality; wages and job opportunities are rising in AI-augmented and automatable roles, with employer demand for formal degrees decreasing in these sectors—potentially widening access. AI as a Job Enricher, Not a Job Killer Another surprise: AI is enriching jobs traditionally seen as vulnerable to automation. By automating mundane tasks, AI frees workers to develop more complex, creative skills. Data entry clerks, for example, are evolving into data analysts, increasing their value in the workplace. The report also shows that even jobs highly susceptible to automation are becoming more complex and creative, ultimately enhancing human worth rather than devaluing it. Could Gentler Job Growth Be a Hidden Blessing? With many countries facing declining working-age populations, the study suggests that moderated job growth in AI-affected fields might be beneficial. AI-driven productivity gains create a multiplier effect, filling workforce gaps and enabling companies to grow more efficiently. You Might Also Like: Are advanced AI models exhibiting 'dangerous' behavior? Turing Award-winning professor Yoshua Bengio sounds the alarm Atkinson concludes, 'It's a prediction supported by the productivity data we're seeing… It could absolutely and will be a good thing.' AI: From Efficiency Tool to Growth Strategy The report urges companies to rethink AI as more than a cost-cutting tool. Instead, AI should be embraced as a powerful growth engine. Businesses are encouraged to help employees adapt, innovate, and collaborate to create new markets and revenue streams. 'It is critical to avoid the trap of low ambition. Instead of limiting our focus to automating yesterday's jobs, let's create the new jobs and industries of the future,' the report advocates. Historically, technology has been a wellspring of new jobs — with two-thirds of today's U.S. jobs nonexistent in 1940. PwC's research suggests AI could ignite a similar wave of innovation, reshaping the workforce for decades to come.
CNBC
18 hours ago
- Business
- CNBC
New research busts 6 AI myths: Artificial intelligence makes workers 'more valuable, not less'
Despite widespread fears that artificial intelligence could automate jobs and cut employees' wages, AI actually makes people "more valuable, not less," new research by professional services firm PwC found. "What causes people to react in this environment is the speed of the tech innovation," PwC Global Chief AI Officer, Joe Atkinson told CNBC Make It. "The reality is that the tech innovation is moving really, really fast. It's moving at a pace that we've never seen in a tech innovation before." "What the report suggests, actually, is AI is creating jobs," Atkinson said. In fact, both jobs and wages are growing in "virtually every" AI-exposed occupation — or jobs that have tasks where the technology can be used — including those that are the most automatable, such as customer service workers or software coders, according to the 2025 AI Jobs Barometer report. "We know that every time we have an industrial revolution, there are more jobs created than lost. The challenge is that the skills workers need for the new jobs can be quite different," said Carol Stubbings, PwC UK's global chief commercial officer, in the report. "So the challenge, we believe, is not that there won't be jobs. It's that workers need to be prepared to take them," said Stubbings. The report, which analyzed over 800 million job ads and thousands of company financial reports across six continents, challenged six common myths about AI's impact: Myth: AI has not yet had a significant impact on productivity. However, the report found that since 2022, productivity growth in industries "best positioned to adopt AI" has nearly quadrupled, while falling slightly in industries "least exposed" to AI, such as physical therapy. Notably, the industries that are the most exposed to AI, such as software publishing, showed three times higher growth in revenue per employee, according to PwC's data. Myth: AI can have a negative impact on workers' wages and bargaining power. PwC's data showed that the wages of workers with AI skills are on average 56% higher compared to workers without these skills in the same occupation, up from 25% last year. In addition, wages are rising twice as fast in industries that are the most exposed to AI compared to the industries least exposed. Myth: AI may lead to a decrease in job numbers. The report found that while occupations with lower exposure to AI saw strong job growth at 65% between 2019 and 2024, growth remained robust — albeit slower — even in occupations more exposed to the technology (38%). Myth: AI may exacerbate inequalities in opportunities and wages for workers. Contrary to fears that AI will worsen inequality, the report findings show that wages and employment are rising for jobs that are augmentable and automatable by the technology. The report noted that employer demand for formal degrees is declining faster in AI-exposed jobs, creating broader opportunities "for millions". Myth: AI may "deskill" jobs that it automates. The report found that instead, AI can enrich automatable jobs by freeing up employees from tedious tasks to practice more complex skills and decision making. For example, data entry clerks can evolve into a "higher value" role such as data analysts, according to PwC. Myth: AI may devalue jobs that it highly automates. The data shows that not only are wages rising for jobs that are highly automatable, but the technology is also reshaping these jobs to become more "complex and creative," and ultimately, make people more valuable. The study offers another perspective: In a world where many countries have declining working-age populations, softening job growth in AI-exposed occupations could even "be helpful" and benefit such countries. The productivity boost by AI can actually create a "multiplier effect" on the available workforce and satisfy the gaps that companies might not have been able to be fill otherwise, as well as growth for businesses, said Atkinson. "It's a prediction supported already by the productivity data we're seeing," he added. "I think it could absolutely and will be a good thing." Ultimately, the study takes the stance that AI should be treated "as a growth strategy, not just an efficiency strategy." Rather than using the technology to cut costs on headcount, companies should help their employees adapt and work together to create new opportunities, claim new markets and revenue streams. "It is critical to avoid the trap of low ambition. Instead of limiting our focus to automating yesterday's jobs, let's create the new jobs and industries of the future," the report said. "AI, if used with imagination, could spark a flowering of new jobs and new business models. For example, 2/3 of jobs in the U.S. today did not exist in 1940, and many of these new jobs were enabled by advances in technology," the report added.
Korea Herald
3 days ago
- Business
- Korea Herald
AI linked to a fourfold increase in productivity growth and 56% wage premium, while jobs grow even in the most easily automated roles: PwC 2025 Global AI Jobs Barometer
LONDON, June 3, 2025 /PRNewswire/ -- AI is making workers more valuable, productive, and able to command higher wage premiums, with job numbers rising even in roles considered most automatable, according to PwC's 2025 Global AI Jobs Barometer, released today. The report is based on analysis of close to a billion job ads from six continents. The report finds that since GenAI's proliferation in 2022, productivity growth has nearly quadrupled in industries most exposed to AI (e.g. financial services, software publishing), rising from 7% from 2018-2022 to 27% from 2018-2024. In contrast, the rate of productivity growth in industries least exposed to AI (e.g. mining, hospitality) declined from 10% to 9% over the same period. 2024 data shows that the most AI exposed industries are now seeing 3x higher growth in revenue per employee than the least exposed. Carol Stubbings, Global Chief Commercial Officer, PwC, said: "This research shows that the power of AI to deliver for businesses is already being realised. And we are only at the start of the transition. As we roll out Agentic AI at enterprise scale, we are seeing that the right combination of technology and culture can create dramatic new opportunities to reimagine how organisations work and create value." Job numbers are rising in virtually every type of AI-exposed occupation, even those highly automatable Contrary to some expectations, the data from the report does not show job or wage destruction from AI. While occupations with lower exposure to AI saw strong job growth (65%) in recent years (2019-2024), growth remained robust even in more exposed occupations (38%). Within more exposed occupations, jobs can be further divided into 'automated' (i.e., the job contains some tasks that AI can carry out) and 'augmented' (i.e., where AI helps a human do their job better). Across both classifications between 2019-24, job numbers are growing in every industry analysed, although augmented jobs are generally growing faster. Wages are growing twice as fast in AI-exposed industries Wages are growing twice as fast in industries more exposed to AI versus less exposed, with wages rising in both automatable and augmentable jobs. Jobs which require AI skills also offer a wage premium (over similar roles that don't require AI skills) in every industry analysed, with the average premium hitting 56%, up from 25% last year. Jobs that require such AI skills also continue to grow faster than all jobs – rising 7.5% from last year, even as total job postings fell 11.3%. Joe Atkinson, Global Chief AI Officer, PwC, said: "In contrast to worries that AI could cause sharp reductions in the number of jobs available – this year's findings show jobs are growing in virtually every type of AI-exposed occupation, including highly automatable ones. AI is amplifying and democratizing expertise, enabling employees to multiply their impact and focus on higher-level responsibilities. With the right foundations, both companies and workers can re-define their roles and industries and emerge leaders in their field, particularly as the full gambit of applications becomes clearer." The skills earthquake accelerates – AI is creating deep change in the skills workers need to succeed While the picture on productivity, wages and jobs is broadly positive, the research does highlight the need for workers and businesses to adapt to a much faster pace of change. The skills sought by employers are changing 66% faster in occupations most exposed to AI, up from 25% last year. What it takes to succeed in AI-exposed jobs is changing in other ways. Employer demand for formal degrees is declining for all jobs, but especially quickly for AI-exposed jobs. The percentage of jobs AI augments that require a degree fell 7 percentage points between 2019 and 2024 from 66% to 59%, and 9 percentage points (53% to 44%) for jobs AI automates. The findings show that AI's impact on women and men may be unequal – in every country analysed, more women than men are in AI-exposed roles, suggesting the skills pressure facing women will be higher. Pete Brown, Global Workforce Leader, PwC, said: "AI's rapid advance is not just re-shaping industries, but fundamentally altering the workforce and the skills required. This is not a situation that employers can easily buy their way out of. Even if they can pay the premium required to attract talent with AI skills, those skills can quickly become out of date without investment in the systems to help the workforce learn." The AI business imperative If businesses are to turbocharge their growth and leverage the opportunity afforded by AI, they must put AI front-and-centre, now. The report recommends five key actions for businesses: About the PwC 2025 Global AI Jobs Barometer The AI Jobs Barometer analysed close to a billion job ads and thousands of company financial reports across six continents to reveal AI's impact on jobs, wages, skills, and productivity. The Barometer includes some of the most recent available data on AI's impact including the latest available job ads and company reports through the end of 2024. We define a job as 'AI-exposed' if it contains many tasks in which AI can be used according to the well-established AI Occupational Exposure index. Definitions: 'More exposed' jobs are the 50% of jobs with greater AI exposure; 'Less exposed' jobs are the 50% of jobs with lower AI exposure; 'Most exposed' jobs are the 25% of jobs with the greatest AI exposure. We use the IMF's methodology to separately analyse AI-exposed jobs that are highly automatable (which means the job contains many tasks AI can perform) versus jobs that are highly augmentable (which means the job contains many tasks in which AI supports human expertise and judgment). You can read the full report and learn more about the key takeaways for business at About PwC At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at
Euronews
26-05-2025
- Science
- Euronews
Women three times more likely to have job taken by AI than men
Women's jobs are at a higher risk of automation by artificial intelligence (AI) than those occupied by men, according to a new study from the United Nations. The recent report from the UN's International Labour Organisation (ILO) and Poland's National Research Institute of the Ministry of Digital Affairs (NASK) found that automation could replace just under 10 per cent of female-dominated positions in high-income countries compared to the 3.5 per cent it could replace for men. The biggest disparity between male and female-dominated jobs happens in high-income countries, where 41 percent of all high-income work for women could be exposed to AI, compared to 28 percent of men's jobs. In Europe and Central Asia, 39 per cent of women's jobs could be affected compared to 26 percent of men. The patterns identified by the study "reflect both occupational structures," and that AI-exposed jobs are "concentrated in higher-income countries". Overall, the ILO found that one in four workers globally work in an occupation with some AI exposure. To reach these findings, the survey was conducted with1,640 people employed in various fields in Poland, with the results analysed by a small group of international experts. Researchers then developed an AI that used this survey data alongside national job information to identify how likely 2,500 professions and over 29,000 work tasks would be automated. The study found that clerical occupations like data entry clerks, typists, word processing operators, accountants, and bookkeeping clerks are the most exposed to AI, due to some of the tasks performed in those professions, like taking meeting notes or scheduling appointments. Other professions identified with a large AI exposure are web and media developers, database specialists, financial, and software-related jobs. The study notes that these numbers reflect the "potential exposure," but that they don't reflect any actual job losses. Full replacement by AI is still "limited," the report continued, noting that human involvement is still needed to oversee certain tasks. "As most occupations consist of tasks that require human input, transformation of jobs is the most likely impact of generative AI," the report reads. What could impact the number of jobs lost or AI adoption more broadly are technological constraints, infrastructure gaps, and skills shortages, the report continued. The report asks governments, employees, and workers organisations to shape "inclusive strategies" that can help protect job quality and productivity in endangered fields. "It's easy to get lost in the AI hype," Janine Berg, senior economist at the ILO, said in a statement. "What we need is clarity and context".
Euronews
24-05-2025
- Science
- Euronews
Women's jobs three times more likely to be taken by AI then men's
Women's jobs are at a higher risk of automation by artificial intelligence (AI) than those occupied by men, according to a new study from the United Nations. The recent report from the UN's International Labour Organisation (ILO) and Poland's National Research Institute of the Ministry of Digital Affairs (NASK) found that automation could replace just under 10 per cent of female-dominated positions in high-income countries compared to the 3.5 per cent it could replace for men. The biggest disparity between male and female-dominated jobs happens in high-income countries, where 41 percent of all high-income work for women could be exposed to AI, compared to 28 percent of men's jobs. In Europe and Central Asia, 39 per cent of women's jobs could be affected compared to 26 percent of men. The patterns identified by the study "reflect both occupational structures," and that AI-exposed jobs are "concentrated in higher-income countries". Overall, the ILO found that one in four workers globally work in an occupation with some AI exposure. To reach these findings, the survey was conducted with1,640 people employed in various fields in Poland, with the results analysed by a small group of international experts. Researchers then developed an AI that used this survey data alongside national job information to identify how likely 2,500 professions and over 29,000 work tasks would be automated. The study found that clerical occupations like data entry clerks, typists, word processing operators, accountants, and bookkeeping clerks are the most exposed to AI, due to some of the tasks performed in those professions, like taking meeting notes or scheduling appointments. Other professions identified with a large AI exposure are web and media developers, database specialists, financial, and software-related jobs. The study notes that these numbers reflect the "potential exposure," but that they don't reflect any actual job losses. Full replacement by AI is still "limited," the report continued, noting that human involvement is still needed to oversee certain tasks. "As most occupations consist of tasks that require human input, transformation of jobs is the most likely impact of generative AI," the report reads. What could impact the number of jobs lost or AI adoption more broadly are technological constraints, infrastructure gaps, and skills shortages, the report continued. The report asks governments, employees, and workers organisations to shape "inclusive strategies" that can help protect job quality and productivity in endangered fields. "It's easy to get lost in the AI hype," Janine Berg, senior economist at the ILO, said in a statement. "What we need is clarity and context". The European Commission will this year review rules governing ride-hailing services such as Uber, Bolt, Cabify and Heetch this year as part of its Single Market Strategy unveiled this week, a senior official has indicated. EU member state currently regulate app-based taxi services through a patchwork of different rules, covering aspects such as licensing, waiting times, vehicle size, and parking. In recent years, tensions in relations between traditional taxi drivers and ride-share drivers have flared in various capitals, amid accusations of unfair competition. Transport is a shared competence between EU countries and the European executive, and the Commission intends to work towards harmonising these rules. Speaking on Thursday at the launch of the Shared Mobility Europe coalition – a group bringing together European ride-hailing firms, driver organisations and mobility platforms – Petra Söderqvist, a member of the cabinet of Tourism Commissioner Apostolos Tzitzikostas, welcomed the inclusion of ride-sharing in the Single Market Strategy. 'We have the support of the college that we need to look into this,' she said. 'I think that there is a strong signal that we want to have a political discussion on this in the Commission this year - what can we actually do to address this and what are the possibilities,' she added, noting that further details and actions would be shared in 2025. During the coalition's launch, representatives of ride-share companies voiced their concerns, highlighting stark regulatory differences across the EU. For example, in Italy, drivers must wait 20 minutes after a booking is made before picking up fares, and there are fewer licences available in the country than in Paris alone. In parts of Spain, vehicles must be at least 4.9 metres long. Back in 2022, the Commission issued a notice on Transport-on-Demand, acknowledging the value of ride-hailing in decarbonising transport and enhancing mobility. But Eduardo Martín Gómez de Villalba, President of MOVEA - an NGO representing the interests of VTC (chauffeur-driven vehicle) drivers - said that while the recognition was appreciated, it was not sufficient. He is urging the Commission to propose binding regulations to address the ongoing challenges. Söderqvist warned that warned not to expect "any grand actions", however since she said the issue involved sensitivities over legal competence and the subsidiarity principle.
