Whether your company considers using AI to replace workers could be a coin flip, CEO survey finds

• Some executives say AI could be used to replace some jobs in the future, according to a new survey.
• Half of CEOs surveyed think AI might be used to replace jobs at their companies.
• Retraining and reskilling initiatives could help some workers prepare for an AI future.

Business leaders across the world are still experimenting with AI technologies, but many think their companies might eventually use those tools to replace jobs.

That's according to a new survey from the think tank The Conference Board, which asked over 1,200 corporate executives, including 630 global CEOs and 344 US executives, what impacts they thought AI could have on their businesses in the future. The survey was conducted in October and November of last year.

While over 90% of executives said that AI could make their workers more productive, they were divided on one question: whether AI might "displace labor" at their companies. A Conference Board representative confirmed to Business Insider that by "displace labor," the survey was referring to AI "replacing jobs."

Fifty-one percent of global executives, 50% of global CEOs, and 52% of US CEOs said job replacement could be one of the impacts of AI adoption on their businesses. Cutting labor costs could benefit some companies' bottom lines — 68% of CEOs said AI could help their business increase sales and profits.

To be sure, just because a company's executives think AI could be used to replace jobs doesn't mean this will end up happening. And even if it does, it's possible only a modest share of employees would be impacted.

Additionally, not all industries are likely to face the same impacts from AI technologies. Among the CEOs surveyed, 45% worked for companies in business and professional services, 34% were in manufacturing, and 14% were in financial services.

Experts disagree on what degree AI will be used to replace jobs and which workers are most vulnerable. Some say generative AI technologies like ChatGPT will disproportionately impact white-collar roles.

In the future, learning how to harness AI tools might be the best way for some workers to remain valuable. The one thing the surveyed CEOs agreed on more than anything else was that AI could require new skills development and training for their workers — 94% thought so.

While some companies have already taken steps to retrain workers, whether these efforts become successful and widespread remains to be seen.

"It is true that some workers will need support and retraining as we make this transition into an AI-powered workplace," Bill Gates wrote in a blog post last July. "That's a role for governments and businesses, and they'll need to manage it well so that workers aren't left behind."

Have you used AI tools to become more productive at work? Has your company started adopting AI? If so, reach out to this reporter at [email protected].