Home Business Global Companies Brace for Job Cuts Amid AI Advancements

Global Companies Brace for Job Cuts Amid AI Advancements

by Sonia Park
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Global Companies Brace for Job Cuts Amid AI Advancements

As artificial intelligence (AI) continues to revolutionize industries worldwide, at least four in ten companies are planning significant workforce reductions within the next five years. This finding is part of the World Economic Forum's latest "Future of Jobs Report," which sheds light on the impact of AI and automation on the global labor market.

The survey reveals that many companies see advanced AI as a cost-effective alternative to human labor, with employers stating that certain roles can now be performed by technology. While this shift represents a leap in efficiency and innovation, it also raises concerns about job. . .

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