AI and Technology Risk
Dual Forces of Disruption and Opportunity
AI is no longer a futuristic tool — it is here, helping investors and others make more informed, data-driven decisions in real-time. From understanding current market dynamics to forecasting future performance, AI frameworks are showing they are game changers. As workforces are realigned to retool for AI, however, the ultimate impact on jobs remains unknown.
The release of an early demo of ChatGPT in late 2022 shook the market with large tech companies announcing plans to invest in AI with major consequences for their workforces. One large software giant announced plans to invest several billion dollars to integrate AI into its business, saying this move would leave some workers laid off and others re-trained to work with AI.
As AI-investing firms increasingly seek more educated and technically skilled employees, understanding these workforce shifts and the impact on the bottom line will be critical to maintain profitability. S&P Global Market Intelligence’s Pricing and Purchasing service provides reliable wage cost and price analysis for over 60 countries to evaluate the impact of workforce realignment strategies. Findings from the service point out that GenAI implementation has been disproportionate across sectors.[1] Those such as professional services are already reaping the rewards of GenAI, while others, including agriculture and construction, are at risk of being left behind. Even when focusing on organizations that have invested in AI, or plan to invest in the near term, most GenAI uptake is limited to proof-of-concept experimentation. According to S&P Global Purchasing Managers’ Index™ (PMI®) Business Outlook surveys, only 15% of service and manufacturing organizations have invested in AI in general, although 23.6% intend to invest in the next 12 months. [2]
"Sectoral divide in GenAI adoption"
