Robotics, automation and AI to make people ‘largely irrelevant’, feel top CEOs

Based on interviews with top business leaders across the globe, a study by Korn Ferry finds that they attach greater importance on technology over the value of the people in their organizations.

The study, which traces changes over the years in CEO perceptions in multi-million and multi-billion dollar global organizations, finds that nearly half the respondents feel the prevalence of robotics, automation and artificial intelligence (AI) will make people largely irrelevant in the future of work.

“Leaders may be facing what experts call a tangibility bias,” says Global MD – Solutions at Korn Ferry, Jean-Marc Laouchez. “Facing uncertainty, they are putting priority on the tangible – what they can see, touch and measure, such as technology investments. Putting an exact value on people is much more difficult,” he says.

Leaders who took part in the study feel that technology is becoming so central to their thinking and execution that it occupies a majority of their priorities on strategic focus and financial investment, with 63% saying that technology will be their firm’s greatest source of competitive advantage in 5 years.

However, while the critical role and pervasive nature of technology in tomorrow’s workforce is clear, Korn Ferry CEO Alan Guarino does not feel that people are going away altogether. “Soft skills such as the ability to lead and manage culture will become critical factors of success for companies in the future of work as they seek to maximize their value through their people,” he says.

The study was conducted in August and September this year with extensive interactions held with about 800 business leaders on their views on the value of people in the future of work. These leaders were based out of the UK, US, India, China, Brazil, France, Australia and South Africa.