AI To Reduce, Alter Staffing at 1 of 4 Texas Firms, Survey Shows

 

(Bloomberg) -- About one in four Texas businesses say artificial intelligence will either decrease staffing requirements or alter the composition of their workforce.

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About 11% of respondents in a Federal Reserve Bank of Dallas survey who are using or planning to incorporate AI in their business model said it will or already has decreased their need for workers. 

Another 13.5% indicated that AI will change the type of workers needed, indicating more workers will be dismissed or require retraining for another position.

While AI is in its infancy, business leaders are seeing its capabilities to have a positive impact for the firm by increasing productivity and lowering costs but a positive for the firm may mean a negative future for many workers. 

Just 3.1% of firms currently using AI or planning to said AI has or will increase the need for workers.

Among firms planning on reducing employment due to the implementation of AI, the biggest hit is expected to come in mid-skill positions, followed by low-skill jobs. 

 Here is how some of the 363 Texas business executives responded about AI and jobs in the survey conducted April 16–24 and released Monday:

If your job involves sitting behind a screen all day, AI is coming for you. Those with manual skills and abilities will again become the most valuable workers. As decision-making becomes automated and optimized, people won’t benefit as much from greater education. AI could be seen as a timely cost and head count reduction tool. We believe there is strong potential for AI to automate or eliminate many clerical jobs in our business. High inflation may force us to explore the use of AI and other technologies so that we can save payroll expenses.