Why does it feel like comments EY CEO Janet Truncale made at the Milken Institute Global Conference this week won’t age well?
“We’re not going to decrease the size of our workforce” because AI increases productivity, and employees perform at a higher level earlier in their careers [she said].
“I like to think we can double in size with the workforce we have today when we have those professionals operating at the top of their license and doing more interesting work,” she said.
Truncale believes AI “is going to transform the work our people are doing,” but not make humans obsolete or eliminate thousands of jobs.
Speaking of eliminating thousands of jobs, it appears EY laid off a significant number of IT people globally in February though exact numbers aren’t known. Additionally, it was reported in March that EY is in the process of dramatically reorganizing its global units or, as my Pop says, “shuffling deck chairs on the Titanic.”
Staff aren’t the only ones feeling the pain at EY. Partners at EY US were expected to kick in an extra 2 percent to manage cash flow last year.
On the topic of AI stealing our jerbs, World Economic Forum’s 2025 Future of Jobs Report predicts that by 2030, 92 million current jobs will be displaced (murked) while “macrotrend-driven creation” of new jobs is estimated at 170 million jobs.
In a completely unrelated happening, TB4A posted this yesterday:
EY CEO says AI won’t decrease its 400,000-person workforce — but it might help it double in size [Business Insider]
The opposite of what is said is always the truth. Gear up for the exciting future.