Artificial intelligence (AI) transformation of the workplace is in full swing, with 40% of the current work day ripe for automation, according to a study by independent analyst firm Valoir.
AI presents significant opportunities for employees to become more productive and strategic, but it also raises fears about job replacement, finds the Assessing the Value of AI and Automation report.
The analysis found about 20% of manual tasks have already been automated by AI and other technologies over the past two years. While the level varied by geography, industry and job role, nearly every survey respondent experienced some level of automation. ChatGPT and similar solutions are accelerating automation with more than half of respondents saying they’ve experimented with generative AI.
“Despite all the dire warnings and calls to slow AI development, the genie is out of the bottle,” said Rebecca Wettemann, CEO of Valoir. “The question is not if companies should leverage AI technologies, but how. Every department, from IT to HR to the boardroom to individual employees, will need new strategies to maximize the positive impact of AI on their organization.”
North America leads on AI adoption, followed by Asia-Pacific (APAC) and Latin America (LatAm) with Europe, the Middle East and Africa (EMEA) trailing. By industry, aerospace, manufacturing, life sciences and healthcare outpace others in AI adoption with government and nonprofit lagging behind.
Valoir’s analysis finds that 40% of the average work day can be automated with AI and other technologies, effectively enabling a three-day work week, with some job roles more primed for automation than others.
IT and finance have the most potential for AI automation of the work day, as high as 48%. Marketing and HR — two functions that have already automated significant processes —present fewer opportunities for further AI transformation.
Other key findings:
- Employees believe 48% of their co-workers will be replaced by AI over the next two years.
- Four out of 10 believe AI developments should be paused until better policies and regulations can be developed to manage the potential risks of AI.
- Three out of 10 workers are very worried that AI will “take over.”
- One in four are very worried that AI will start a world war.
- Three out of 10 workers are also very worried that AI will commit a crime or support criminal activity.
- One in four workers are very worried that their job will be replaced by AI in the next year; those most concerned about being replaced were workers in the 26 to 41 age group and those in finance and IT roles.
You can download the full report here.