News: GenAI cuts workweek by 5 hours, but job security anxiety rises

Skilling

GenAI cuts workweek by 5 hours, but job security anxiety rises

While employee confidence in AI's workplace impact has nearly doubled (42% vs. 26% in 2023), job security remains a concern for nearly half of regular users
GenAI cuts workweek by 5 hours, but job security anxiety rises
 

Indian employees are among those most confident about AI's impact on work. However, anxieties about job displacement persist.

 

Employees using GenAI report saving a whopping five hours per week (58%), a new study by Boston Consulting Group (BCG) reveals. However, the study also finds lingering anxieties about job displacement among users.

The study highlights the power of GenAI, with a staggering 58% of users reporting at least five hours saved per week. 93% of respondents using GenAI for work in India agree that GenAI has saved them time.

This freed-up time allows them to tackle more tasks (41%), explore new areas (39%), experiment with GenAI itself (38%), or focus on strategic initiatives (38%).

However, the landscape is nuanced. Overall employee confidence in AI and GenAI's impact on work has nearly doubled (42% vs. 26% in 2023). Yet, this optimism is counterbalanced by rising anxieties. Nearly half (49%) of regular GenAI users worry about job security due to automation.

Despite anxieties, GenAI adoption is increasing across all levels. Frontline workers are experiencing a surge in usage, with 43% now reporting regular use. This aligns with leaders actively integrating GenAI (64%), though a training gap exists (only 30% of managers and 28% of frontline workers trained).

The study identifies a geographical disparity. Employees in developing countries tend to be more optimistic about GenAI and have higher adoption rates compared to mature markets.

The report's authors emphasise moving beyond a purely productivity-focused approach. They recommend a holistic strategy that highlights how GenAI can enhance employee satisfaction and value creation.

The report acknowledges challenges in managing human reactions to new technologies. Effective change management and building trust are crucial for successful GenAI implementation.

While employees experience time savings and growing confidence, job security concerns remain. Companies must navigate this complex scenario by building trust, providing training, and ensuring GenAI complements, rather than replaces, human work.

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Topics: Skilling, #Artificial Intelligence, #Career, #Future of Work

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