Few changes in the world have created more uncertainty in the workplace than the recent, seemingly sudden advancements in automation and artificial intelligence.
The media headlines can be dire: Vikram Pandit, previously the head of Citigroup, has predicted that technology will eliminate up to 30 percent of banking jobs in the next five years. A recent article in Harvard Business Review posits that AI could soon replace “even the most elite consultants.” And in one recent Russell Reynolds Associates survey of executives, 46 percent of respondents said technological innovation, artificial intelligence, and similar advancements will have the most significant impact on how people work in the future.
Workers are paying attention. A recent study by PricewaterhouseCoopers reveals that the number of employees worried about losing their jobs to automation has increased 60 percent in the last three years. Across all geographies, industries, and sectors, workers who previously felt confident and secure in their ability to find employment, apply their skills, and earn a living are now wondering if they’ll soon be replaced by an algorithm – losing out on jobs to a distant relative of their Roomba or Alexa.
Read the full paper, co-authored with Alix Stuart, and published by Russell Reynolds Associates.