Title: AI Layoffs and Concerns over Job Security Heightened by ChatGPT – The Business Journals
(Article)
Workers across various industries are expressing deep concerns about artificial intelligence (AI) tools, particularly ChatGPT, potentially replacing their jobs. Multiple surveys have consistently reflected these worries, indicating that such concerns are valid.
According to a survey conducted by tech news and product review outlet Tech.co, about 47% of business leaders are contemplating using AI tools like ChatGPT instead of hiring new employees. While 52% of respondents mentioned that ChatGPT and similar tools will not replace entire roles within their businesses, they acknowledged that more than a quarter of their current workload could be completed by AI.
The Tech.co survey highlighted that AI tools are swiftly transforming task delivery methods in numerous industries. Coding and legal advisory services, for instance, can now be efficiently executed using AI. In just six months since its public release, ChatGPT has already showcased its potential to significantly impact business operations and alter the hiring landscape.
The popularity of AI tools such as ChatGPT has skyrocketed in recent months, evident from the platform amassing over 100 million users. Google searches for ChatGPT have surpassed those for popular social media platforms like LinkedIn, TikTok, and Reddit. Freelance workers have also embraced generative AI tools, with 75% of them admitting to using these tools, and 58% specifically utilizing ChatGPT, as revealed in a survey conducted by Freelancer.com.
While some studies have demonstrated improved productivity with the use of AI tools, experts caution about potential legal issues and the existence of hallucinations, where generative AI tools sometimes provide incorrect answers. Consequently, several larger companies, including Samsung, have prohibited their employees from using ChatGPT at work, reflecting the growing backlash against OpenAI, the developer of ChatGPT, and other AI tools and companies.
According to a separate survey conducted by HigherVisibility, which involved 2,000 Americans, approximately 49% of respondents expressed concerns about their future job prospects due to AI. Furthermore, 30% believed that companies should not be allowed to use AI solely to replace jobs or boost their revenues.
HR professionals are increasingly adopting ChatGPT, with over 10% reporting its use in writing termination letters, according to a survey conducted by B2B Reviews. The same survey included responses from 213 HR professionals working in the tech industry and 792 tech employees. Those who utilized ChatGPT mentioned an average weekly time-saving of 70 minutes.
In a survey conducted by Beautiful.ai involving 3,000 American managers, approximately 66% stated that they would willingly replace employees with AI tools if the work produced was comparable. Additionally, a survey by ResumeBuilder.com, which surveyed 1,000 US business leaders, noted that ChatGPT had already saved at least $75,000 for around 25% of the companies.
As AI-related tools continue to gain traction, some companies have begun downsizing their workforce. Business and executive coaching firm Challenger Gray & Christmas Inc. reported that 3,900 individuals have been laid off this year due to the adoption of AI technology, all within the tech industry.
IBM Corp. CEO, Arvind Krishna, recently disclosed the company’s plans to replace nearly 8,000 jobs with AI in the next few years, with machines potentially assuming up to 30% of non-customer-facing roles within the next five years.
A report by Goldman Sachs published in April highlighted that the new wave of AI tools could potentially automate approximately 300 million full-time jobs worldwide in the coming years, depending on the advancements made in these tools.
However, experts caution that companies must approach the use of AI carefully when it comes to workforce reduction, as several crucial factors go beyond mere financial gains. Attorney Seth Price has provided advice and cautionary words on how to successfully implement AI tools in the workplace, emphasizing responsible usage and guarding against potential misuse by employees.
The increasing prevalence of AI tools in various industries coupled with the ongoing concerns expressed by workers underscore the need for a mindful and measured approach to ensure that the impact on jobs is balanced with the benefits these tools bring.
