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Global Firms Slash Workforces and Invest in Reskilling as AI Advances

Executives attempt to shield workers from AI-driven displacement through targeted reskilling initiatives

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Business leaders must show their teams the ways in which AI is being deployed to their benefit, not as their replacement.
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Overview

  • Companies including Amazon, Microsoft and Shopify have announced layoffs or trimmed white-collar staff by 3.5% over the past three years in response to automation forecasts
  • Reports from UNCTAD and the OECD warn that up to 40% of global jobs and 60% in advanced economies face automation, with women and older workers most at risk
  • McKinsey and the World Economic Forum predict AI will also create millions of new roles in fields such as AI development, data science, cybersecurity and human-AI collaboration
  • Leaders like Mark Minevich highlight the need to prioritize emotional intelligence, creativity and ethical judgment within hybrid intelligence models to preserve human agency
  • Surveys show 47% of executives are prioritizing workforce upskilling while 78% plan to add AI-focused positions to balance efficiency gains with human capital