Survey: Over Half of UK Large Enterprises Plan AI Staff Replacements
A Deloitte survey reveals that 52% of Chief Financial Officers in large UK enterprises intend to use artificial intelligence to replace employees within the next year.
London – Over half of Chief Financial Officers (CFOs) in large UK enterprises plan to use artificial intelligence (AI) to replace employees over the next year, according to a new report by Deloitte. The findings suggest significant shifts in the labor market, even as AI adoption remains in its early stages.
More than two-thirds (67%) of surveyed CFOs indicated they have only achieved a quarter of the potential transformation AI can offer. This research reinforces a trend of slowing employment growth in Britain, presenting political challenges for the government. High labor costs, combined with AI implementation, are prompting companies to carefully consider hiring new staff.
The situation also highlights the challenges for the Minister for AI, who has pledged that ordinary workers will not bear the full cost of the AI revolution. Concerns about job losses and the future for upcoming generations are palpable.
However, uncertainty persists regarding AI's impact on corporate profitability. Only one-third of CFOs believe AI will contribute to improving their company's profit margins in the coming year. Deloitte surveyed 66 CFOs between September 17 and early October for this report.
Meanwhile, a separate report from London-based training platform Multiverse indicates that companies struggle to align AI investments with the skill development of their current workforce. This suggests that acquiring AI tools without training employees can lead to inefficient spending.