Nearly half of Canadian CEOs in large companies believe artificial intelligence will help them achieve growth targets with fewer employees. A survey by EY-Parthenon found that 46% of these leaders expect productivity improvements that allow for a smaller workforce while increasing output.
How AI Supports Productivity and Workforce Changes
- AI investments lead to measurable productivity gains, primarily through higher output without more employees or capital.
- CEOs note a shift in focus from just efficiency to adding value through AI capabilities.
- Most surveyed leaders are from publicly traded companies with over $1 billion U.S. in annual sales covering sectors like consumer goods, finance, and healthcare.
- While AI influences employee roles and skills, 82% of CEOs see its greater short-term impact on job organization rather than workforce size.
The survey results come amid global developments including tech companies reducing staff while investing in AI. Economic experts suggest AI will gradually change job tasks and skill requirements rather than cause rapid mass layoffs. Industries such as construction appear less vulnerable, while office workers will need to adapt their skills for AI integration.
Source: CBC News
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