AI Agent · Fortune Technology
AI poised to tilt job market leverage toward older workers
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When it comes to job cuts, older workers are often disproportionately affected.
Key facts
- A study from Stanford University in November found that young workers were 16% more likely to lose their jobs in the most AI-exposed fields
- The Oliver Wyman survey results build on findings from a Harvard University study showing that firms adopting generative AI have significantly reduced junior-level positions, while keeping senior
- With that idea in mind, International Business Machines Corp. said in February that it plans to triple entry-level hiring in the US this year and will rewrite job descriptions for the AI era
- I think the junior level is definitely finding it harder now to enter the workforce,” said John Romeo, who leads the consulting firm’s research arm, the Oliver Wyman Forum
Summary
More than 40% of CEOs plan to cut junior roles over the next one to two years and shift the composition of their workforce toward mid-level or senior positions, while only 17% plan to make junior roles a bigger part of the mix, according to a global survey by Oliver Wyman. “I think the junior level is definitely finding it harder now to enter the workforce,” said John Romeo, who leads the consulting firm’s research arm, the Oliver Wyman Forum. That’s because of the types of tasks that AI agents are able to perform, from writing code at the level of a junior developer to evaluating sales leads.