The impact of artificial intelligence (AI) will lead to layoffs in one in four large British companies, the Financial Times reported, citing a survey of British employers.
According to the results of the survey, over 25% of large companies expect to reduce their workforce by 2026 due to the impact of AI. Junior positions will be most at risk.
According to the British Institute of Personnel and Development (CIPD), 26% of large private sector companies and 20% of public sector organisations are preparing for redundancies in the next 12 months to streamline operations.
The CIPD survey found that the changes will affect the financial services sector, where 37% of employers expect job losses due to AI. IT is next, with 26% preparing for workforce reductions. 24% are in the legal, accounting and consultancy sectors.