While many AI researchers in 2024 believe that AI technology will help augment human workers — increasing productivity and work-life balance for millions in the workforce — there is also a sizable number of workers globally who still fear massive job losses as a result of automation.
The fears might be warranted. A recent survey conducted by Beautiful.ai, 41% of managers in the United States expressed their hope to replace employees with artificial intelligence (AI) tools in 2024. The survey, which spanned 3,000 managers, found that many believe AI can deliver high-quality output and replace multiple employees while maintaining team efficiency.
The financial incentives for companies to adopt AI are significant, with 48% of managers stating that their businesses would benefit financially if a large number of employees were replaced by AI tools. Additionally, 45% of managers view AI as an opportunity to lower employee salaries due to reduced human-powered work.
The data only adds to employees’ fears of being replaced by emerging technologies. Two-thirds (66%) of managers acknowledged that their employees are afraid AI tools will make them less valuable at work, and 62% said their employees fear losing their jobs to AI.
Notably, managers themselves are not immune to the fears and perceived threats to job-security posed by AI. According to the survey, half of the respondents expressed concern that AI tools will result in lower pay for management positions, and 48% believe AI will fuel wage declines across the country in 2024.
Despite these concerns, the adoption of AI tools is widespread, with 90% of managers stating that they have already introduced AI tools into their own workflows. Moreover, 64% said they use the technology on a daily or weekly basis. The primary motivation for AI adoption is the improvement to productivity and efficiency — with 66% of managers citing these reasons.
While AI offers the potential for increased productivity and cost savings, it also raises important questions about job security, wage stability, and the evolving roles of both employees and managers in an AI-driven world. Although many believe in a kinder future that results from introducing AI technology into the workforce, it will be important for leaders in government and in private and public businesses to lead the way in terms of establishing guardrails and protections for workers.
