Future of Work
Your weekly CogX briefing on HR tech, automation, and the workplace
The week's developments on automation & the workplace, explained | 29.01.24
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Everyone seems to agree that AI will transform the world but this transformation is happening much, much faster than anyone anticipated, especially in the world of work. But just how fast will AI be taking over jobs? A recent survey aggregating over 2,778 AI expert predictions revealed a 50% chance AI will surpass human ability in all tasks by 2047 — 13 years earlier than previous estimates! (Researchers also calculated a 10% likelihood of reaching this milestone as early as 2027).
Elsewhere, new data shows UK execs are outpacing their US and European peers in AI adoption, UK male employees are now clocking in 3.3 fewer work hours per week and a recent MIT study suggests humans are cheaper than AI in most jobs — for now.
We hope you enjoy these stories and more below and don't miss the best productivity-boosting tools of the week, in our CogX Must Reads.
CogX Must Reads
🤖 There’s a 50% chance that machines will outperform humans in all tasks by 2047, new research suggests. While optimism about AI's benefits remains relatively high among experts, concerns over misinformation, authoritarian control and inequality are also rising. (Find the article here)
👨💼 UK CEOs are implementing GenAI faster than their US, Chinese and European counterparts. A new PwC survey reveals UK executives are adopting AI tools like ChatGPT at an unmatched pace. 42% of UK CEOs report GenAI implementation in the past year, well above the global average. (PwC)
Future of the Office
💼 UK Male employees are working 3.3 hours less per week than they were in the 90s, new government data shows. Experts link this fall in average male working hours to the rising popularity of flexible working, which has helped many women — especially those with children — improve their work-life balance. (Startups.)
🧑💻️ Young staff need to be in the office because of AI. PwC's Kevin Ellis suggests junior staff should be present in the office 4-5 days a week to get quicker promotions. With AI taking over tasks once used for training, in-person work is set to become increasingly important. (Business Insider)
AI & Automation
💸 AI is still too expensive to replace human labour in most jobs – for now. A recent MIT study found AI automation to be financially viable in only 23% of tasks. Despite advancements in the tech, high costs of AI systems still outweigh the benefits in most occupations. (Euro News)
🤝 AI will likely transform the future of recruitment – but how will it be integrated? Success in an AI-assisted recruitment process, experts say, will hinge on a balanced approach – with AI streamlining administrative tasks, while humans focus on fostering authentic interactions. (HR Grapevine)
Check out this week's top AI tools to supercharge your productivity
Gigasheet is a cloud-based data analysis platform that enables users to process up to 1 billion rows in a single spreadsheet.
Pricing Model: Freemium
Broadcast is an AI-powered meeting assistant that automates notes, follow-ups, and recaps to optimise management and team collaboration.
Pricing Model: Freemium
Modelize.ai brings tailored AI solutions to streamline workflows with automated and intelligent process enhancement.
Pricing Model: Paid (Free trial)
In case you missed it
Watch this WSJ special exploring how AI is reshaping white-collar work, delving into the transformative effects of tech on the job markets and its implications for the future of work:
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Disclaimer: This content is for informational and educational purposes only. It does not constitute financial, investment, legal or tax advice.