Generative artificial intelligence (GenAI) could significantly change the way we work in the next five years, affecting nearly a quarter of existing jobs, 44 percent of employee skills and up to 40 percent of total hours worked globally, according to the latest report from the World Economic Forum (WEF) in collaboration with PwC.
“These changes will mean efforts and investments for massive workforce qualification, redefining industries, from financial services and technology to education and healthcare. Many work tasks can be automated by Gen AI, but very few jobs could be completely replaced, shows the analyses carried out so far. Therefore, the way of work will change, employees will need new skills and, similar to previous periods of industrial transformation, it is expected that the use of GenAI will lead to the creation of new jobs, both directly and indirectly, through the effect of propagation throughout the economy”, said Daniel Anghel, Country Managing Partner, PwC Romania.
One of the biggest benefits currently seen with GenAI is increased productivity, and the latest PwC CEO Survey shows that the majority of CEOs, both globally and in Romania, have registered an efficiency increase in the use of employees’ time due to the implementation of this technology.
However, the use of GenAI is still limited: 51 percent of Romanian employees say they have used GenAI at work at least once in the last 12 months, and only 5 percent use it daily, according to the PwC Workforce Hopes & Fears survey. These statistics highlight that despite the rapid adoption of the technologies, integrating them into employees’ daily lives is still a challenge.
Most CEOs anticipate that, in the next three years, Artificial Intelligence (including generative) will be systematically integrated into their company, especially in terms of technology platforms and business processes and operational workflows. Fewer plan to use AI to develop new products and services or to reshape the core business strategy. Around two-thirds of CEOs in Romania say that their organizations are vulnerable to the limited availability of human resources with essential skills.
However, the majority of Romanian employees (87 percent) who responded to the PwC Workforce Hopes & Fears survey indicate that they are ready to adapt to new ways of working and see the potential to use GenAI to increase their efficiency. Over 70 percent of respondents believe that GenAI will create opportunities for employees to learn new skills, be more creative in the workplace and improve the quality of their work. However, over a third express fear for job security.
“Many countries are facing a decrease in labour supply, which may stimulate the demand for new technologies, such as GenAI, to improve efficiency. The challenge for companies will be to find the levers to combine operational readiness generated by AI with the effective management of employee fears. Especially given that our CEO Survey report shows that 43 percent of Romanian CEOs expect investments in GenAI to improve the profitability of their organizations in the next year, which suggests increased confidence in the economic potential of GenAI,” adds Daniel Anghel.