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Future of Work

Your weekly CogX briefing on HR tech, automation, and the workplace
The week's developments on automation & the workplace, explained | 17.06.24

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AI isn’t as good as you think it is, says a recent Lucidworks report. The majority of businesses who invest in it face ‘dismal payoffs’, with only 63% planning to increase spending next year. Meanwhile, Accenture predicts that by 2026, three-quarters of knowledge workers will use AI assistants to attend meetings for them. With reports conflicting, the numbers don’t seem to add up?


On a brighter note, a survey shows 55% of global employers plan to increase their workforce due to AI, despite fears of job losses.


Discover these stories and more below — including our productivity boosters and weekly prompt, designed to help you thrive in the AI-driven workplace.

Charlie and the Research and Intelligence team

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Top Story

🤖Payoff from AI projects is 'dismal', business leaders complain.

Businesses are becoming cautious about AI investments due to cost, data security, and safety concerns, according to a recent Lucidworks study.


"The honeymoon phase of generative AI is over," the company stated. While enthusiasm remains, the initial excitement has given way to a more measured approach.


Surveying 1,000 companies across 14 industries, Lucidworks found that only 63% plan to increase AI spending in the next year, down from 93% in 2023. Regional differences show US firms leading in AI investment, while Chinese firms show a significant decline.


Key issues include poor financial returns, with 42% of companies seeing no significant benefits from AI initiatives, and high project costs, up 14x since last year. Only 25% of planned AI investments have been completed.


Also in the News

⚠️BigTech employees call for sweeping company changes. Current and former employees from OpenAI, Anthropic, and DeepMind have issued a letter warning of AI’s risks to humanity. They urge companies to ensure transparency and whistleblower protections


📚Why the rise of AI is good for English grads. As AI grows, so does the need for prompt engineers with strong language skills. These roles require creative thinking to frame questions for AI effectively, highlighting a renewed demand for liberal arts education. 


Prompt of the Day

Prompt: “Your task is to provide feedback on my social media post against the following rules: (1) Does the hook grab attention in a strong way, with a short opening line that piques interest and isn’t a question? (2) Is the overall message clear, addressing a single point only? (3) Does the post flow in an engaging way that will keep someone reading? (4) Are the sentences short, no more than 12 words each, and is the language simple? (5) Is the call to action clear and compelling? Here’s the post: [Paste post]”


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AI & Automation

🤖 Can I send a chatbot to that meeting? Accenture predicts that by 2026, three-quarters of knowledge workers will use AI assistants. Iliana Valiente from Accenture uses her AI twin Laila, designed to look and sound like Iliana, to handle routine tasks and attend meetings.


🧑‍💼 I’m relieved AI has come at the end of my career, says top investor. AI’s rise is eliminating basic data-gathering roles but also presents risks by making investing seem deceptively easy. Human insights remain crucial in managing money effectively.


🏛️ The next job to be automated? Politicians. Meet AI Steve, the UK’s first AI candidate running for Parliament. Businessman Steve Endacott will represent AI Steve, claiming he'll act merely as a conduit while the AI makes policy decisions.


📈 Over half of global employers plan to increase their workforce due to AI, according to a recent survey. Contrary to fears of AI-driven job losses, 55% of employers intend to expand headcount in the next two years, while only 18% foresee reductions


Productivity Boosters

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

Limeline is an AI meeting assistant that automates the meeting process. The tool enables users to conduct meetings without being present, listen back to calls anytime, and respond flexibly. 


Key Features:

  • Real-time transcripts and summaries

  • Branded call experience 

  • Robust API support

                                                    Pricing Model: Paid

Copyright Check AI offers a comprehensive audit service to identify and mitigate the risk of legal disputes arising from copyright violations on social media profiles. 


Key Features:

  • Scans social media for unauthorised music use

  • Provides detailed reports and ongoing monitoring

  • Guidance on legal use of music

                                                    Pricing Model: Paid

timeOS is an AI tool that captures and summarises meeting content, integrates with popular communication platforms and generates action items that sync with your productivity apps. 


Key Features:

  • Multi platform integration

  • Action item generation syncing

  • Multilingual support

                                           Pricing Model: Freemium

In case you missed it

This is how to keep your job — an optimist's take on reskilling in the age of AI.

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