CFOs Say They are Investing to Replace Jobs with Automation and AI

With the caveat that intentions often are not matched by actions or outcomes, a survey of chief financial officers (enterprise and smaller businesses) suggests a majority of CFOs have implemented automation and artificial intelligence to replace workers, and plan to keep at it for the next year. 

source: Federal Reserve Bank of Richmond

 

source: Federal Reserve Bank of Richmond

source: Federal Reserve Bank of Richmond

Those forecasts are mirrored by estimates of AI-caused job losses by research firms and analysts. 

Source	Timeframe	Estimate/Forecast
Goldman Sachs	Next decade	300 million jobs affected globally
Forrester	By 2030	2.4 million US jobs lost (1.5%)
Forrester	By 2030	11.08 million US jobs influenced (6.9%)
ResumeBuilder	2023	37% of businesses reported AI-induced layoffs
ResumeBuilder	2024	44% of businesses anticipate AI-induced layoffs
World Economic Forum	By 2025	85 million jobs displaced globally
World Economic Forum	By 2025	97 million new roles created globally