- AI isn't the foe we're making it out to be, at least according to HSBC's new Future of Work report.
- Companies surveyed said the main reason for job losses are slower economic growth, the cost of living crisis, and the pandemic.
Despite fears that artificial intelligence is $4, a new report suggests that there are far greater threats to jobs than AI.
$4, a $4, a $4, and the COVID-19 pandemic are the main reasons leading to job losses, according to HSBC's Future of Work report published on July 18 and seen by Insider. The report $4 published in May.
Over 50% of the 803 companies surveyed by the WEF — collectively representing 11.3 million employees globally — believe slower economic growth will displace jobs.
Interestingly, over 50% of firms surveyed believe that new technologies — including AI — will actually be job creators, not destroyers. Slightly under half of the companies surveyed believe AI technologies will lead to new jobs.
$4$4 showed the majority of workers are pretty comfortable with AI taking over parts of their jobs — especially those pesky, repetitive tasks that can be delegated — but they're not ok with total replacement.
But to be sure, around 25% of HSBC's respondents believed AI would cost humans jobs — and some workers are already falling into the minority group of being replaced by the technology.
In May, nearly 4,000 people in the US were laid off because of AI, $4.
And one e-commerce CEO $4 Insider reported in July.
And while the AI debate rages on, perhaps we're missing one crucial point: Rather than obsessing over AI costing jobs, we should be more concerned about the quality and nature of the jobs that AI will create, as $4.