The week's developments on automation & the workplace, explained | 5.02.24

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Ever since the rapid ascent of ChatGPT, concerns about AI displacing jobs have grown. Now, evidence indicates that a quiet wave of automation-driven layoffs is already underway  — and they may be more widespread than companies previously cared to admit.

Elsewhere, a new study finds most Gen Z-ers prioritise financial stability over getting promoted, UK employers continue to value soft skills like communication and leadership, and the emergence of AI tools in the hiring process is raising fairness and ethical concerns — critics argue biassed AI could exacerbate inequalities in the job market.

Enjoy these stories and more — including how AI is beginning to transform workplace dynamics and an expert list on the most in-demand workplace skills for 2024 — in our CogX Must Reads.

CogX Must Reads

Top Stories

🤖 Is AI driving more layoffs than companies want to admit? Over 4,600 job cuts linked to AI advancements have been reported in the US alone, with experts suggesting the actual number may be higher. Efficiency claims and corporate restructuring are the reported reasons for most layoffs. (Bloomberg)

🧑‍💼️ Young workers want financial stability in their workplace. Most Gen Zers would favour financial security over climbing the corporate ladder, new survey data shows. High inflation and economic challenges have left most young workers under financial strain, making them more likely to switch jobs for better pay and benefits. (Business Insider)

Future of the Office

💼 The most in-demand workplace skills for 2024. New LinkedIn data shows that soft skills are still the most sought-after by UK employers. Despite AI's influence on job markets, over 92% of UK business leaders believe soft skills — like communication and leadership - are more important than ever. (HR Grapevine)

🧑‍💻️ The home-working revolution is harming younger workers. Remote policies promise flexibility — but experts argue they disproportionately disadvantage youth lacking foundational workplace experience. Without informal interactions, many feel adrift, missing the cues and mentors key to advancing their careers. (Financial Times)

AI & Automation

💸 Can AI stop you from getting hired? From CV screeners to one-way video interviews, some of the most innovative AI tools are looking to revolutionise the hiring process — but concerns are raising over the fairness and effectiveness of these technologies. (The Guardian)

🤝 AI is transforming workplace dynamics, but are employees leveraging its full potential? While excellent for streamlining tasks, poor use of GenAI often arises from viewing the technology as a definitive answer source, rather than an innovative partner. (Financial Times)

Productivity Boosters

 Check out this week's top AI tools to supercharge your productivity

	Lazy AI makes building full-stack web apps, AI agents, and automations as easy as writing a text prompt — with one-click testing and deployment.   Key features:  Generate full-stack apps from text prompts Incorporate AI capabilities easily One-click test and launch                                             Pricing Model: Freemium
	Modelit is a personal AI assistant that saves time by curating knowledge from documents, apps, and websites to inform its writing, task automation, search and chat capabilities.   Key features:  AI-powered chat, writing and task assistance Integrations with documents, apps, websites Unified search across connected data sources                                             Pricing Model: Paid
	GPT for Forms simplifies Google Forms creation with AI-powered question and answer generation — just describe what you want to ask.   Key features:  ChatGPT integration for smart form content Automated question and answer generation Streamlined Google Forms creation                                              Pricing Model: Freemium

In case you missed it

AI adoption is rapidly expanding across various sectors, driven by its accessibility, ease of use, and precision. This trend suggests AI will soon be an indispensable part of daily work and personal life — but how soon will this happen?

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