By 2030, 41% of Global Companies Anticipate Downsizing their Workforces Because of Advancements in AI.

A recent survey by the World Economic Forum (WEF) revealed that 41% of employers globally plan to reduce their workforce by 2030 as artificial intelligence (AI) takes over specific tasks. At the same time, 77% of the surveyed large companies aim to enhance their employees’ skills between 2025 and 2030 to adapt to AI’s integration, according to the WEF’s latest Future of Jobs Report. However, unlike the 2023 edition, the current report no longer asserts that most technologies, including AI, will have an overall positive effect on job creation.

The report highlighted that advancements in AI and renewable energy are transforming the labor market. While demand is rising for tech and specialist roles, it is declining for positions such as graphic designers, according to a WEF press release issued ahead of the annual Davos meeting.

Saadia Zahidi, WEF’s managing director, emphasized in the report that generative AI is revolutionizing industries by performing tasks like creating text, images, and other content. Jobs such as postal clerks, executive secretaries, and payroll clerks are among those projected to see the most significant declines in the coming years due to AI and other trends.

For the first time, roles like graphic designers and legal secretaries were flagged as being among the fastest-declining positions, a trend attributed to generative AI’s growing ability to handle knowledge-based tasks, the report noted.

Conversely, AI-related skills are increasingly sought after, with nearly 70% of companies planning to hire professionals to develop AI tools and enhancements, and 62% intending to recruit individuals skilled in collaborating with AI systems.

Despite the disruptions, the report struck a hopeful tone, suggesting technologies like generative AI could primarily augment human abilities through human-machine collaboration rather than replacing jobs outright. It emphasized the sustained importance of human-centered skills.

Nonetheless, the report acknowledged that some workers have already been displaced by AI. Companies like Dropbox and Duolingo have cited AI as a factor in recent layoffs.