Latest news with #CarolStubbings
West Australian
09-06-2025
- Business
- West Australian
New research busts 6 AI myths: Artificial intelligence makes workers ‘more valuable, not less'
Despite widespread fears that artificial intelligence could automate jobs and cut employees' wages, AI actually makes people 'more valuable, not less', new research by professional services firm PwC has found. 'What causes people to react in this environment is the speed of the tech innovation,' PwC global chief AI officer Joe Atkinson said. 'The reality is that the tech innovation is moving really, really fast. It's moving at a pace that we've never seen in a tech innovation before. 'What the report suggests, actually, is AI is creating jobs.' In fact, both jobs and wages are growing in 'virtually every' AI-exposed occupation — or jobs that have tasks where the technology can be used — including those that are the most automatable, such as customer service workers or software coders, according to the 2025 AI Jobs Barometer report. 'We know that every time we have an industrial revolution, there are more jobs created than lost. The challenge is that the skills workers need for the new jobs can be quite different,' said Carol Stubbings, PwC UK's global chief commercial officer, in the report. 'So the challenge, we believe, is not that there won't be jobs. It's that workers need to be prepared to take them.' The report, which analysed more than 800 million job ads and thousands of company financial reports across six continents, challenged six common myths about AI's impact: Myth: AI has not yet had a significant impact on productivity. However, the report found that since 2022, productivity growth in industries 'best positioned to adopt AI' has nearly quadrupled, while falling slightly in industries 'least exposed' to AI, such as physical therapy. Notably, the industries that are the most exposed to AI, such as software publishing, showed three times higher growth in revenue per employee, according to PwC's data. Myth: AI can have a negative impact on workers' wages and bargaining power. PwC's data showed that the wages of workers with AI skills are on average 56 per cent higher compared to workers without these skills in the same occupation, up from 25 per cent last year. In addition, wages are rising twice as fast in industries that are the most exposed to AI compared to the industries least exposed. Myth: AI may lead to a decrease in job numbers. The report found that while occupations with lower exposure to AI saw strong job growth at 65 per cent between 2019 and 2024, growth remained robust — albeit slower — even in occupations more exposed to the technology (38 per cent). Myth: AI may exacerbate inequalities in opportunities and wages for workers. Contrary to fears that AI will worsen inequality, the report findings show that wages and employment are rising for jobs that are augmentable and automatable by the technology. The report noted that employer demand for formal degrees is declining faster in AI-exposed jobs, creating broader opportunities 'for millions'. Myth: AI may 'deskill' jobs that it automates. The report found that instead, AI can enrich automatable jobs by freeing up employees from tedious tasks to practice more complex skills and decision-making. For example, data entry clerks can evolve into a 'higher value' role such as data analysts, according to PwC. Myth: AI may devalue jobs that it highly automates. The data shows that not only are wages rising for jobs that are highly automatable, but the technology is also reshaping these jobs to become more 'complex and creative', and ultimately, make people more valuable. The study offers another perspective: In a world where many countries have declining working-age populations, softening job growth in AI-exposed occupations could even 'be helpful' and benefit such countries. The productivity boost by AI can actually create a 'multiplier effect' on the available workforce and satisfy the gaps that companies might not have been able to be fill otherwise, as well as growth for businesses, Mr Atkinson said. 'It's a prediction supported already by the productivity data we're seeing,' he added. 'I think it could absolutely and will be a good thing.' Ultimately, the study takes the stance that AI should be treated 'as a growth strategy, not just an efficiency strategy'. Rather than using the technology to cut costs on headcount, companies should help their employees adapt and work together to create new opportunities, claim new markets and revenue streams. 'It is critical to avoid the trap of low ambition. Instead of limiting our focus to automating yesterday's jobs, let's create the new jobs and industries of the future,' the report said. 'AI, if used with imagination, could spark a flowering of new jobs and new business models. For example, two-thirds of jobs in the US today did not exist in 1940, and many of these new jobs were enabled by advances in technology,' the report added. CNBC
Korea Herald
03-06-2025
- Business
- Korea Herald
AI linked to a fourfold increase in productivity growth and 56% wage premium, while jobs grow even in the most easily automated roles: PwC 2025 Global AI Jobs Barometer
LONDON, June 3, 2025 /PRNewswire/ -- AI is making workers more valuable, productive, and able to command higher wage premiums, with job numbers rising even in roles considered most automatable, according to PwC's 2025 Global AI Jobs Barometer, released today. The report is based on analysis of close to a billion job ads from six continents. The report finds that since GenAI's proliferation in 2022, productivity growth has nearly quadrupled in industries most exposed to AI (e.g. financial services, software publishing), rising from 7% from 2018-2022 to 27% from 2018-2024. In contrast, the rate of productivity growth in industries least exposed to AI (e.g. mining, hospitality) declined from 10% to 9% over the same period. 2024 data shows that the most AI exposed industries are now seeing 3x higher growth in revenue per employee than the least exposed. Carol Stubbings, Global Chief Commercial Officer, PwC, said: "This research shows that the power of AI to deliver for businesses is already being realised. And we are only at the start of the transition. As we roll out Agentic AI at enterprise scale, we are seeing that the right combination of technology and culture can create dramatic new opportunities to reimagine how organisations work and create value." Job numbers are rising in virtually every type of AI-exposed occupation, even those highly automatable Contrary to some expectations, the data from the report does not show job or wage destruction from AI. While occupations with lower exposure to AI saw strong job growth (65%) in recent years (2019-2024), growth remained robust even in more exposed occupations (38%). Within more exposed occupations, jobs can be further divided into 'automated' (i.e., the job contains some tasks that AI can carry out) and 'augmented' (i.e., where AI helps a human do their job better). Across both classifications between 2019-24, job numbers are growing in every industry analysed, although augmented jobs are generally growing faster. Wages are growing twice as fast in AI-exposed industries Wages are growing twice as fast in industries more exposed to AI versus less exposed, with wages rising in both automatable and augmentable jobs. Jobs which require AI skills also offer a wage premium (over similar roles that don't require AI skills) in every industry analysed, with the average premium hitting 56%, up from 25% last year. Jobs that require such AI skills also continue to grow faster than all jobs – rising 7.5% from last year, even as total job postings fell 11.3%. Joe Atkinson, Global Chief AI Officer, PwC, said: "In contrast to worries that AI could cause sharp reductions in the number of jobs available – this year's findings show jobs are growing in virtually every type of AI-exposed occupation, including highly automatable ones. AI is amplifying and democratizing expertise, enabling employees to multiply their impact and focus on higher-level responsibilities. With the right foundations, both companies and workers can re-define their roles and industries and emerge leaders in their field, particularly as the full gambit of applications becomes clearer." The skills earthquake accelerates – AI is creating deep change in the skills workers need to succeed While the picture on productivity, wages and jobs is broadly positive, the research does highlight the need for workers and businesses to adapt to a much faster pace of change. The skills sought by employers are changing 66% faster in occupations most exposed to AI, up from 25% last year. What it takes to succeed in AI-exposed jobs is changing in other ways. Employer demand for formal degrees is declining for all jobs, but especially quickly for AI-exposed jobs. The percentage of jobs AI augments that require a degree fell 7 percentage points between 2019 and 2024 from 66% to 59%, and 9 percentage points (53% to 44%) for jobs AI automates. The findings show that AI's impact on women and men may be unequal – in every country analysed, more women than men are in AI-exposed roles, suggesting the skills pressure facing women will be higher. Pete Brown, Global Workforce Leader, PwC, said: "AI's rapid advance is not just re-shaping industries, but fundamentally altering the workforce and the skills required. This is not a situation that employers can easily buy their way out of. Even if they can pay the premium required to attract talent with AI skills, those skills can quickly become out of date without investment in the systems to help the workforce learn." The AI business imperative If businesses are to turbocharge their growth and leverage the opportunity afforded by AI, they must put AI front-and-centre, now. The report recommends five key actions for businesses: About the PwC 2025 Global AI Jobs Barometer The AI Jobs Barometer analysed close to a billion job ads and thousands of company financial reports across six continents to reveal AI's impact on jobs, wages, skills, and productivity. The Barometer includes some of the most recent available data on AI's impact including the latest available job ads and company reports through the end of 2024. We define a job as 'AI-exposed' if it contains many tasks in which AI can be used according to the well-established AI Occupational Exposure index. Definitions: 'More exposed' jobs are the 50% of jobs with greater AI exposure; 'Less exposed' jobs are the 50% of jobs with lower AI exposure; 'Most exposed' jobs are the 25% of jobs with the greatest AI exposure. We use the IMF's methodology to separately analyse AI-exposed jobs that are highly automatable (which means the job contains many tasks AI can perform) versus jobs that are highly augmentable (which means the job contains many tasks in which AI supports human expertise and judgment). You can read the full report and learn more about the key takeaways for business at About PwC At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at
Cision Canada
03-06-2025
- Business
- Cision Canada
AI linked to a fourfold increase in productivity growth and 56% wage premium, while jobs grow even in the most easily automated roles: PwC 2025 Global AI Jobs Barometer
Workers see rising wages: AI-skilled workers see average 56% wage premium in 2024, double the 25% in the previous year Confounding expectations, data shows job availability grew 38% in the roles more exposed to AI, albeit below the growth rate in less exposed occupations Industries most exposed to AI saw 3x higher growth in revenue per employee (27%) compared to those least exposed (9%) The skills sought by employers are changing 66% faster in jobs most exposed to AI LONDON, June 3, 2025 /CNW/ -- AI is making workers more valuable, productive, and able to command higher wage premiums, with job numbers rising even in roles considered most automatable, according to PwC's 2025 Global AI Jobs Barometer, released today. The report is based on analysis of close to a billion job ads from six continents. The report finds that since GenAI's proliferation in 2022, productivity growth has nearly quadrupled in industries most exposed to AI (e.g. financial services, software publishing), rising from 7% from 2018-2022 to 27% from 2018-2024. In contrast, the rate of productivity growth in industries least exposed to AI (e.g. mining, hospitality) declined from 10% to 9% over the same period. 2024 data shows that the most AI exposed industries are now seeing 3x higher growth in revenue per employee than the least exposed. Carol Stubbings, Global Chief Commercial Officer, PwC, said: "This research shows that the power of AI to deliver for businesses is already being realised. And we are only at the start of the transition. As we roll out Agentic AI at enterprise scale, we are seeing that the right combination of technology and culture can create dramatic new opportunities to reimagine how organisations work and create value." Job numbers are rising in virtually every type of AI-exposed occupation, even those highly automatable Contrary to some expectations, the data from the report does not show job or wage destruction from AI. While occupations with lower exposure to AI saw strong job growth (65%) in recent years (2019-2024), growth remained robust even in more exposed occupations (38%). Within more exposed occupations, jobs can be further divided into 'automated' (i.e., the job contains some tasks that AI can carry out) and 'augmented' (i.e., where AI helps a human do their job better). Across both classifications between 2019-24, job numbers are growing in every industry analysed, although augmented jobs are generally growing faster. Wages are growing twice as fast in AI-exposed industries Wages are growing twice as fast in industries more exposed to AI versus less exposed, with wages rising in both automatable and augmentable jobs. Jobs which require AI skills also offer a wage premium (over similar roles that don't require AI skills) in every industry analysed, with the average premium hitting 56%, up from 25% last year. Jobs that require such AI skills also continue to grow faster than all jobs – rising 7.5% from last year, even as total job postings fell 11.3%. Joe Atkinson, Global Chief AI Officer, PwC, said: "In contrast to worries that AI could cause sharp reductions in the number of jobs available – this year's findings show jobs are growing in virtually every type of AI-exposed occupation, including highly automatable ones. AI is amplifying and democratizing expertise, enabling employees to multiply their impact and focus on higher-level responsibilities. With the right foundations, both companies and workers can re-define their roles and industries and emerge leaders in their field, particularly as the full gambit of applications becomes clearer." The skills earthquake accelerates – AI is creating deep change in the skills workers need to succeed While the picture on productivity, wages and jobs is broadly positive, the research does highlight the need for workers and businesses to adapt to a much faster pace of change. The skills sought by employers are changing 66% faster in occupations most exposed to AI, up from 25% last year. What it takes to succeed in AI-exposed jobs is changing in other ways. Employer demand for formal degrees is declining for all jobs, but especially quickly for AI-exposed jobs. The percentage of jobs AI augments that require a degree fell 7 percentage points between 2019 and 2024 from 66% to 59%, and 9 percentage points (53% to 44%) for jobs AI automates. The findings show that AI's impact on women and men may be unequal – in every country analysed, more women than men are in AI-exposed roles, suggesting the skills pressure facing women will be higher. Pete Brown, Global Workforce Leader, PwC, said: "AI's rapid advance is not just re-shaping industries, but fundamentally altering the workforce and the skills required. This is not a situation that employers can easily buy their way out of. Even if they can pay the premium required to attract talent with AI skills, those skills can quickly become out of date without investment in the systems to help the workforce learn." The AI business imperative If businesses are to turbocharge their growth and leverage the opportunity afforded by AI, they must put AI front-and-centre, now. The report recommends five key actions for businesses: Use AI for enterprise-wide transformation. Treat AI as a growth strategy, not just an efficiency strategy. Prioritise Agentic AI. Enable your workforce to have the skills to make the most of AI's power. Unlock AI's transformative potential by building trust. About the PwC 2025 Global AI Jobs Barometer The AI Jobs Barometer analysed close to a billion job ads and thousands of company financial reports across six continents to reveal AI's impact on jobs, wages, skills, and productivity. The Barometer includes some of the most recent available data on AI's impact including the latest available job ads and company reports through the end of 2024. We define a job as 'AI-exposed' if it contains many tasks in which AI can be used according to the well-established AI Occupational Exposure index. Definitions: 'More exposed' jobs are the 50% of jobs with greater AI exposure; 'Less exposed' jobs are the 50% of jobs with lower AI exposure; 'Most exposed' jobs are the 25% of jobs with the greatest AI exposure. We use the IMF's methodology to separately analyse AI-exposed jobs that are highly automatable (which means the job contains many tasks AI can perform) versus jobs that are highly augmentable (which means the job contains many tasks in which AI supports human expertise and judgment). You can read the full report and learn more about the key takeaways for business at About PwC At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at SOURCE PwC
Yahoo
03-06-2025
- Business
- Yahoo
AI linked to a fourfold increase in productivity growth and 56% wage premium, while jobs grow even in the most easily automated roles: PwC 2025 Global AI Jobs Barometer
Workers see rising wages: AI-skilled workers see average 56% wage premium in 2024, double the 25% in the previous year Confounding expectations, data shows job availability grew 38% in the roles more exposed to AI, albeit below the growth rate in less exposed occupations Industries most exposed to AI saw 3x higher growth in revenue per employee (27%) compared to those least exposed (9%) The skills sought by employers are changing 66% faster in jobs most exposed to AI LONDON, June 3, 2025 /PRNewswire/ -- AI is making workers more valuable, productive, and able to command higher wage premiums, with job numbers rising even in roles considered most automatable, according to PwC's 2025 Global AI Jobs Barometer, released today. The report is based on analysis of close to a billion job ads from six continents. The report finds that since GenAI's proliferation in 2022, productivity growth has nearly quadrupled in industries most exposed to AI (e.g. financial services, software publishing), rising from 7% from 2018-2022 to 27% from 2018-2024. In contrast, the rate of productivity growth in industries least exposed to AI (e.g. mining, hospitality) declined from 10% to 9% over the same period. 2024 data shows that the most AI exposed industries are now seeing 3x higher growth in revenue per employee than the least exposed. Carol Stubbings, Global Chief Commercial Officer, PwC, said: "This research shows that the power of AI to deliver for businesses is already being realised. And we are only at the start of the transition. As we roll out Agentic AI at enterprise scale, we are seeing that the right combination of technology and culture can create dramatic new opportunities to reimagine how organisations work and create value." Job numbers are rising in virtually every type of AI-exposed occupation, even those highly automatable Contrary to some expectations, the data from the report does not show job or wage destruction from AI. While occupations with lower exposure to AI saw strong job growth (65%) in recent years (2019-2024), growth remained robust even in more exposed occupations (38%). Within more exposed occupations, jobs can be further divided into 'automated' (i.e., the job contains some tasks that AI can carry out) and 'augmented' (i.e., where AI helps a human do their job better). Across both classifications between 2019-24, job numbers are growing in every industry analysed, although augmented jobs are generally growing faster. Wages are growing twice as fast in AI-exposed industries Wages are growing twice as fast in industries more exposed to AI versus less exposed, with wages rising in both automatable and augmentable jobs. Jobs which require AI skills also offer a wage premium (over similar roles that don't require AI skills) in every industry analysed, with the average premium hitting 56%, up from 25% last year. Jobs that require such AI skills also continue to grow faster than all jobs – rising 7.5% from last year, even as total job postings fell 11.3%. Joe Atkinson, Global Chief AI Officer, PwC, said: "In contrast to worries that AI could cause sharp reductions in the number of jobs available – this year's findings show jobs are growing in virtually every type of AI-exposed occupation, including highly automatable ones. AI is amplifying and democratizing expertise, enabling employees to multiply their impact and focus on higher-level responsibilities. With the right foundations, both companies and workers can re-define their roles and industries and emerge leaders in their field, particularly as the full gambit of applications becomes clearer." The skills earthquake accelerates – AI is creating deep change in the skills workers need to succeed While the picture on productivity, wages and jobs is broadly positive, the research does highlight the need for workers and businesses to adapt to a much faster pace of change. The skills sought by employers are changing 66% faster in occupations most exposed to AI, up from 25% last year. What it takes to succeed in AI-exposed jobs is changing in other ways. Employer demand for formal degrees is declining for all jobs, but especially quickly for AI-exposed jobs. The percentage of jobs AI augments that require a degree fell 7 percentage points between 2019 and 2024 from 66% to 59%, and 9 percentage points (53% to 44%) for jobs AI automates. The findings show that AI's impact on women and men may be unequal – in every country analysed, more women than men are in AI-exposed roles, suggesting the skills pressure facing women will be higher. Pete Brown, Global Workforce Leader, PwC, said: "AI's rapid advance is not just re-shaping industries, but fundamentally altering the workforce and the skills required. This is not a situation that employers can easily buy their way out of. Even if they can pay the premium required to attract talent with AI skills, those skills can quickly become out of date without investment in the systems to help the workforce learn." The AI business imperative If businesses are to turbocharge their growth and leverage the opportunity afforded by AI, they must put AI front-and-centre, now. The report recommends five key actions for businesses: Use AI for enterprise-wide transformation. Treat AI as a growth strategy, not just an efficiency strategy. Prioritise Agentic AI. Enable your workforce to have the skills to make the most of AI's power. Unlock AI's transformative potential by building trust. About the PwC 2025 Global AI Jobs Barometer The AI Jobs Barometer analysed close to a billion job ads and thousands of company financial reports across six continents to reveal AI's impact on jobs, wages, skills, and productivity. The Barometer includes some of the most recent available data on AI's impact including the latest available job ads and company reports through the end of 2024. We define a job as 'AI-exposed' if it contains many tasks in which AI can be used according to the well-established AI Occupational Exposure index. Definitions: 'More exposed' jobs are the 50% of jobs with greater AI exposure; 'Less exposed' jobs are the 50% of jobs with lower AI exposure; 'Most exposed' jobs are the 25% of jobs with the greatest AI exposure. We use the IMF's methodology to separately analyse AI-exposed jobs that are highly automatable (which means the job contains many tasks AI can perform) versus jobs that are highly augmentable (which means the job contains many tasks in which AI supports human expertise and judgment). You can read the full report and learn more about the key takeaways for business at About PwC At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at SOURCE PwC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-02-2025
- Business
- Yahoo
Wix.Com Ltd. (WIX) Launches AI-Driven Business Launcher to Help Entrepreneurs Bring Ideas to Life
We recently compiled a list of the . In this article, we are going to take a look at where Ltd. (NASDAQ:WIX) stands against the other AI stocks that are making headlines. Nowadays, barely a day goes by without a huge headline touching artificial intelligence (AI). Three main factors are driving the rising interest in AI. First, it is now easier to train new machine learning (ML) models because training data is easily available. The DeepSeek R1 breakthrough is evidence of this. Second, smaller companies can access computing power with relative ease. AI models use this power to organize and process information. Third, there are enough AI solutions to bridge the gap between AI and organizations. Although organizations still need to hire skilled professionals like Data Scientists, the overall cost to design AI solutions is significantly lower because of the existence of free open-source AI platforms. However, if you look at it from another angle, the rising interest in AI arises from increased adoption. A recent McKinsey report found that 65% of organizations are now using generative AI. The high demand for AI models and related services is reflected in the AI market as ever-higher growth numbers. For instance, a Markets and Markets analysis valued the global AI market at $214.6 billion in 2024 and projects that it will reach $1.3 trillion in 2030. What is happening in the AI market is only one side of the coin; the other side is what the AI revolution is doing to human life. Great things are happening. According to a PwC analysis, AI could contribute up to $15.7 trillion to the global economy in 2030. This will happen in the form of increased GDP for local economies resulting from increased productivity and consumption of AI-related products and services. Interestingly, this impact doesn't come from traditional AI companies—those at the forefront of training AI models—alone. Instead, the global economy will experience an income boost from AI through partnerships between core technology developers and other businesses. What this means is that AI is no longer just a chatbot. Rather, it has changed how companies create value. 'This is exactly what we are seeing in our work with clients as well. AI transforms companies' ability to apply intelligence and information at speed and scale, enabling them to build new business models and tap different value pools. Pioneering companies in areas from AI-supported healthcare to AI-enabled mergers & acquisitions are using the technology to create breakthroughs in the value their people can deliver,' says Carol Stubbings, the Global Chief Commercial Officer at PwC. As AI continues to reshape the global economy, certain companies are emerging as key players in this transformation. Let's look at 10 AI companies that are making headlines and driving significant changes in their respective sectors. For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (). People interacting with a travel website, searching for the perfect Ltd. (NASDAQ:WIX) is a cloud-based web development platform provider. Since generative AI is a key factor in business growth, WIX has been concentrating on it. As of the third quarter of 2024, the company had 29 AI businesses and has been integrating AI assistants throughout its platform. On January 31st, it launched Business Launcher, an artificial intelligence (AI)-driven tool designed to help users transform new business ideas into reality. With just a few questions or a resume uploaded, Business Launcher evaluates users' goals, experience, and skills to produce customized business ideas. It offers comprehensive insights, such as revenue opportunities, search engine optimization (SEO) tactics, and market potential. After selecting a business idea, users receive a full launch kit that includes a distinctive company name, a personalized website, a logo, domain name options, and marketing materials. Overall WIX ranks 6th on our list of the AI stocks that are making headlines right now. While we acknowledge the potential of WIX as an investment, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than WIX but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap. Disclosure: None. This article was originally published at Insider Monkey. Sign in to access your portfolio
