Jamie Dimon to Elon Musk and Anand Mahindra: What global business leaders say on AI’s impact on job market
1 / 6Artificial Intelligence (AI) has started to impact the job market internationally, with research and studies highlighting its everlasting impact on the global economy. Over the years, several leaders worldwide have expressed concerns about the potential impact of AI on the job market. Here we take a look at five major statements made by business leaders regarding AI:( Image Shutterstock)
2 / 61. Jamie Dimon: The CEO of JPMorgan Chase recently envisioned a future where AI might cut the traditional work week down to 3.5 days. Speaking to Bloomberg TV, Dimon described AI as a ‘living, breathing thing’ and predicted a world where the upcoming generations could live up to 100. “Your children are going to live to 100 and not have cancer because of technology, and they’ll probably be working three and a half days a week,” Dimon said. While Goldman Sachs has estimated AI might replace 300 million jobs globally, Dimon likened AI to previous revolutions in the technology world and said, “People have to take a deep breath… technology has always replaced jobs. But it’s also created new opportunities and improved our quality of life.”(Image Reuters)
3 / 62. Elon Musk: Tesla CEO Elon Musk, earlier this year, said AI would eventually eliminate all jobs, but he added that it was not necessarily a bad development. “Probably none of us will have a job,” said Musk, speaking remotely via webcam at VivaTech 2024 in Paris in May this year. He added, “If you want to do a job that’s kinda like a hobby, you can do a job… But otherwise, AI and the robots will provide any goods and services that you want.” (Image X)
4 / 63. Anand Mahindra: Contrary to the belief that AI might end IT services, Mahindra and Mahindra Chairman Anand Mahindra earlier said the technology would serve as a force for positive change in the industry. “I believe that the rumours that the advent of AI will be the death of IT services are grossly exaggerated,” Mahindra said in a letter to shareholders in Tech Mahindra’s annual report for FY24, Moneycontrol reported. Further, Mahindra added that it will push the services towards a new frontier, “into directions that were hitherto unimaginable”. (Image X)
5 / 64. Kweilin Ellingrud: A report by McKinsey earlier this year noted how AI is set to cause major changes in the job market during the next decade. Ellingrud, senior partner at McKinsey and director of its Global Institute, highlighted in the report how nearly 11.8 million workers in roles facing decreasing demand will be required to shift towards new lines of work by 2030. “It’s crucial for individuals to stay informed about the evolving job landscape and develop skills that are less susceptible to automation,” India Today quoted her as saying. (Image LinkedIn)
6 / 65. Romal Shetty: The Deloitte South Asia CEO recently shared his views on the impact of AI on the job market and said AI has the potential to create new jobs while adding that some of the current ones might face a hit. “…Where something is repetitive and commoditised, those jobs could be lost but will there be new jobs created, new roles created? 100% and absolutely,” he said. (Image LinkedIn)
