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AI fears misplaced

Fears that artificial intelligence (AI) will cause significant job losses in the short-term are mis-placed, according to a new report from by Capgemini’s Digital Transformation Institute, Turning AI into concrete value: the successful implementers’ toolkit.

The study of 1,000 large enterprises that are implementing artificial intelligence (AI) shows that AI has generated new job roles in 83% of cases worldwide and in 75% of cases in the UK.

Almost two thirds (63%) of respondents from organisations that have implemented AI at scale report no job losses as a result, with 71% choosing to up-skill/re-skill employees following their AI investment.

Almost nine out of 10 UK senior executives (87%) expect AI to increase efficiency and effectiveness within their organisations by freeing staff from having to spend time on repetitive tasks; 68% said their organisations had already seen a 10% uplift in sales as a direct result of their AI investment.

The two areas benefitting most from AI are customer service, cited by 31% of UK senior executives, and finance, cited by 27%.

Almost three quarters (73%) of respondents think AI can increase customer satisfaction scores; 65% believe it could reduce customer churn.

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