Future of Work
Your weekly CogX briefing on HR tech, automation, and the workplace
The week's developments on automation & the workplace, explained | 20.11.23
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Once upon a time, parents advised their kids to pursue medicine, law, or banking if they wanted a shortcut to financial success. Now, the younger generation is all about the AI gold rush, where $800k+ salaries are the norm. But are these salaries sustainable for companies?
New data shows women have experienced faster growth in weekly pay compared to men in 2023, but the UK's gender pay gap persists. Over 78% of full-time job roles have a gender pay gap in favour of men.
Elsewhere, PwC is planning to upskill its 75,000-person workforce in AI using its GenAI platform, ChatPwC. Despite recently announcing job cuts, the company emphasised that it sees AI as a tool to augment human work, not replace it.
—Charlie & the Research & Intelligence team
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CogX Must Reads
AI recruitment surge drives salaries to new heights
Ever since ChatGPT's launch, the corporate world has raced to hire top AI talent. Freshly minted PhD graduates in this field are now commanding salaries of up to $400k right out of uni, while high-ranking executives are raking in well over $1 million. (Sifted)
Over two-thirds of UK jobs still pay men more than women
Women saw their weekly pay increase at a quicker pace than men in the 12 months leading to August 2023, but the gender pay gap has not narrowed. 78% of all full-time job roles in the UK pay men more than women, with nearly a third of those jobs paying women 10% less per hour. (ONS)
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Future of the Office
Flexibility isn't just a perk – it's profitable
Employers offering fully remote or flexible office attendance work models saw their sales soar by 21% from 2020 to 2022, a new study shows. Companies that embrace this work structure can see higher employee retention, more engagement, and more diversity. (Bloomberg)
The over-employed workers juggling remote jobs
Professionals are stealthily mastering the art of working multiple remote jobs for extra cash, triggering some tricky legal and ethical challenges for employers. Those who go for the secret second job are still in the minority, likely comprising less than 1% of the white-collar workforce. (Business Insider)
AI & Automation
Is PwC ahead of the AI curve?
PwC will train its entire 75,000-strong workforce in AI, leveraging its in-house GenAI platform, ChatPwC. Employees will be trained on AI ethics, responsible technology use, and effective prompting of AI tools. (HR Grapevine)
AI learning boom: online platforms witness record enrollments
AI's takeover is sparking a learning boom among professionals eager to upskill. Platforms like Coursera and Codecademy have seen record-level enrolments, with courses like "Generative AI for Everyone" drawing over 40,000 eager learners. (Worklife News)
🧑💻️ BeeDone converts everyday routines into an engaging, game-like productivity experience. Users can centralises task, routines and habits in a way that makes them manageable and fun to complete.
📜 Workist is an AI-driven software that automates business document processing, featuring automatic data extraction, invoice and purchase order management.
📝 AI Checklist Generator tool enables users to create tailored checklist templates for various processes based on their chosen industry.
In case you missed it
This CNBC news special explores the changing face of remote work in corporate America, from widespread acceptance during the pandemic to growing scepticism:
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Disclaimer: This content is for informational and educational purposes only. It does not constitute financial, investment, legal or tax advice.