tl;dr
Artificial intelligence will lead to fewer employees at companies in most sectors, according to an exhaustive survey of executives by the Swiss staffing company The Adecco Group. The survey found 41% of companies expect fewer people employed at their organization in five years due to AI and generat...
Artificial intelligence will lead to fewer employees at companies in most sectors, according to an exhaustive survey of executives by the Swiss staffing company The Adecco Group. The survey found 41% of companies expect fewer people employed at their organization in five years due to AI and generative AI. Only 46% of employers plan to redeploy employers internally if their jobs are displaced by AI. The survey, "Leading through the great disruption 2024," involved 2,000 C-suite executives spanning nine countries and was conducted in collaboration with Oxford Economics. The study's authors suggest companies should take a "human-centric approach to AI." It also finds it is more financially feasible to train existing employees to work with new AI tools rather than hiring new AI talent. "Our research shows that many leaders don't have a clear understanding of the disruption that lies ahead," said Adecco Group CEO Denis Machuel. "Responsible, human-centric talent strategies will be paramount to manage growing pains and build the right workforce for success, all while creating opportunities for personal growth." However, the survey found that 66% plan to hire AI-skilled talent, while only 34% plan to build skills internally. Adecco does not believe this strategy is sustainable as this "buy" mindset will inflate wages. More than half, 57%, of executives surveyed lacked confidence in their leadership team's AI skills and knowledge. A larger percentage of companies in Canada, the U.K. and the U.S. are better prepared to navigate the AI disruption than their global peers, according to survey results. In response to the inevitable layoffs associated with the rise of AI, an array of big tech companies have joined the AI-Enabled ICT Workforce Consortium to deal with the issue. The consortium is led by Cisco and includes Accenture, Eightfold AI, Google, IBM, Indeed, Intel, Microsoft, and SAP. “The mission of our newly unveiled AI-Enabled Workforce Consortium is to provide organizations with knowledge about the impact of AI on the workforce and equip workers with relevant skills," said Francine Katsoudas, Executive Vice President and Chief People, Policy & Purpose Officer at Cisco.
More about Cisco Systems Inc
Cisco Systems, Inc. is an American multinational technology conglomerate headquartered in San Jose, California, in the center of Silicon Valley. Cisco develops, manufactures and sells networking hardware, software, telecommunications equipment and other high-technology services and products. Through its numerous acquired subsidiaries, such as OpenDNS, Webex, Jabber and Jasper, Cisco specializes in specific tech markets, such as the Internet of Things (IoT), domain security and energy management.
On January 25, 2021, Cisco reincorporated in Delaware.
Industry: Technology
Sector: Computer Communications Equipment
Market Cap: 194.81 billion
Current Price: $14.62
Change: 1.56 (3.29%)
52-Week High: $14.07
52-Week Low: $0.235
Volume: 57,232,998
Average Volume: 53.58
EPS: -0.031
P/E Ratio: -0.059
More about Accenture plc
Accenture plc Summary Accenture plc
Accenture plc is an Irish-domiciled multinational company that provides consulting and processing services. It has been incorporated in Dublin, Ireland since 2009.
Industry Information
Industry: Trade & Services
Services: Business Services, NEC
Financial Data
Revenue: $21.04 billion
Operating Income: $2.29 billion
Profit Margin: 10.9%
Market Cap: $102.56 billion
Price/Earnings Ratio: 0.109
Shares Outstanding: 645.74 million
Enterprise Value: $38.98 billion
Enterprise Value/Revenue: 0.101
Enterprise Value/EBITDA: -0.001
More about Alphabet Inc Class C
Company: Alphabet Inc Class C
Description: Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. The two co-founders of Google remained as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world's fourth-largest technology company by revenue and one of the world's most valuable companies.
Industry: Technology, Services-Computer Programming, Data Processing, etc.
Market Cap: 188.20 billion
P/E Ratio: 26.2
Dividend Yield (%): 5.8
EPS: 24.34
Beta: 0.24
Volume: 307,393,987
52-Week High/Low: 162.2 / 0.56
Volatility: 0.135
More about Alphabet Inc Class A
Alphabet Inc Class A Summary Alphabet Inc Class A
Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. The two co-founders of Google remained as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world's fourth-largest technology company by revenue and one of the world's most valuable companies.
Industry
Technology, Services-Computer Programming, Data Processing, etc.
Key Financial Data
Market Cap: 1,877,425,127,000
P/E Ratio: 26.0
Dividend Yield: None
EPS: 5.79
Profit Margin: 24.34%
ROE: 0.24
Revenue: 307,393,987,000
Operating Income: 163.28
Beta: 0.56
Volatility: 0.135
More about International Business Machines
International Business Machines Corporation (IBM) is a multinational technology company headquartered in Armonk, New York, with operations in over 170 countries. The company, initially founded in 1911 as the Computing-Tabulating-Recording Company (CTR) in Endicott, New York, was later renamed International Business Machines in 1924. IBM is incorporated in New York and is involved in the production and sale of computer hardware, middleware, and software. Additionally, it provides hosting and consulting services across a wide range of technological areas, from mainframe computers to nanotechnology. IBM is also a leading research organization, holding the record for most annual U.S. patents generated by a business for 28 consecutive years (as of 2020).
Notable inventions by IBM include the automated teller machine (ATM), the floppy disk, the hard disk drive, the magnetic stripe card, the relational database, the SQL programming language, the UPC barcode, and dynamic random-access memory (DRAM). The IBM mainframe, represented by the System/360, was the dominant computing platform during the 1960s and 1970s.
Industry: Technology, Computer & Office Equipment
Market Cap: 172.29 billion
P/E Ratio: 23.4
EPS: 6.63
Earnings Date: 8.03
Dividend Yield: 0.121
Shares Outstanding: 618,600,000
Public Float: 18.24
Beta: 0.2
Rev. per Employee: 0.041
More about Intel Corporation
Company: Intel Corporation
Industry: Manufacturing, Semiconductors & Related Devices
Market Cap: 167.98 billion
Current Price: $107.38
Price Change: 0.74 (0.37%)
Dividend Yield: 12.94
EPS: 0.0312
Revenue: 54.23 billion
PE Ratio: 45.47
Beta: -0.717
Volatility: 0.097
More about Microsoft Corporation
Microsoft Corporation Summary Microsoft Corporation is an American multinational technology company which produces computer software, consumer electronics, personal computers, and related services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue; it was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Sector: TECHNOLOGY
Industry: SERVICES-PREPACKAGED SOFTWARE
Market Cap: 310.50B
Current Price: $38.02
Change: 2.86 ( 10.99%)
52-Week Range: $30.61 - $460.92
PE Ratio (TTM): 0.363
Volume: 227.58M
EPS (TTM): $0.332
Dividend Yield: 0.176
More about SAP SE ADR
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SAP SE ADR
SAP SE is a global enterprise application software company. The company is headquartered in Walldorf, Germany.
Industry: TECHNOLOGY
Sector: SERVICES-PREPACKAGED SOFTWARE
Market Cap: 225.88B
Current Price: $58.29
Dividend Yield: 2.2%
P/E Ratio: 3.32
EPS: $26.74
Beta: 0.197
Revenue: 31.207B
Net Income: 20.957B
Debt to Equity: 1.418
Quick Ratio: 0.05
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