Preeti
A recent survey of CFOs by Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta shows that more U.S. companies are planning to automate tasks using artificial intelligence (AI) in the coming year. While automation has been a common practice for years, the use of AI specifically is on the rise, with 54% of businesses planning to use AI tools to automate tasks in the next 12 months.
The survey highlights that AI is being used to automate various tasks such as paying suppliers, invoicing, procurement, financial reporting, and optimizing facilities utilization. Large companies are leading the way in adopting AI for automation, with 76% planning to use it in the coming year. However, small companies are also getting on board, with 44% planning to use AI for automation.
While the survey does not suggest that AI will completely replace human workers, it does emphasize the increasing importance of AI skills in the workplace. LinkedIn co-founder Reid Hoffman predicts that in three to five years, humans will have an “agent copilot” to assist with tasks, emphasizing the idea of job transformation rather than replacement.
Venture capitalist Kai-Fu Lee has reaffirmed his prediction that AI will replace 50% of human jobs in the next decade, highlighting the potential long-term impact of AI on the labor market. Overall, the survey indicates a growing trend towards AI-driven automation in the business world, emphasizing the need for companies and employees to adapt to this technological shift.
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Source link: https://fortune.com/2024/06/22/ai-automation-companies-artificial-intelligence-replace-tasks-human-workers/
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