The rise of AI technology could decrease hiring in the next five years, according to a recent survey by recruiting agency Adecco.
More than 40% of senior executives at over 2,000 companies interviewed by Adecco stated that they expected their workforces to shrink soon because of AI.
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Adecco’s research included companies from industries like pharmaceuticals, logistics and defence.
Since the release of ChatGPT in November 2022, many Big Tech companies have released GenAI features to automate workplace tasks.
Prior to Adecco’s survey, the UN’s International Labour Organisation reported that clerical jobs may be at a higher risk of being completely automated, which could disproportionately affect women workers globally.
In a 2024 survey conducted by research and analysis company GlobalData, around 27% of businesses answered that they already had a high adoption rate of AI tools in their workflows.
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By GlobalDataAs generative AI sweeps into the workplace, jobs could risk complete automation as the technology matures and becomes more reliable.
Graduate analyst at GlobalData Emma Christy explained the effect of AI on the future job market.
“AI has the potential to revolutionise the job market by automating repetitive tasks, increasing productivity and creating new job opportunities,” Christy said.
“However, concerns arise regarding job displacement, ethical considerations and widening economic inequality for those without AI skills. It is essential these challenges are addressed proactively to ensure a balanced and equitable future job market,” she added.
A study by the Oxford Internet Institute in 2023 suggested that as AI becomes more valuable to companies, knowledge of AI skills could increase a worker’s wage by up to 40%.
By 2030, GlobalData forecasts the total AI market could be worth more than $909bn worldwide.
