There may be no one on the planet who is more excited about AI than CEOs.
Driven by force to reduce overhead costs, avoiding the rage of AI-fixed shareholders as well – executive teams across the US can't wait to force employees into AI.
Corporate executives are on the verge of automating the workforce and boasting increased productivity when firing human workers who are facing one of the worst job markets in recent history. Even in sectors where AI cannot easily replace human labor, executives have been able to embrace AI, cut wages, delay employment, and raise productive quotas.
But all of that assumes that AI can actually do the job of replacing human workers. As has become more and more clear in the past few months, the current approach to American AI development – throwing billions of dollars into the furnace and seeing what comes out is becoming increasingly unstable as results fail in the real world.
recently axios An interview with Accenture CEO Julie Sweet highlights how sharp the gap between AI reality and executive fantasy is. As head of top consulting firms, Sweet has unique access to some of the world's most powerful minds: her fellow CEO.
At this point, she said axiosCEOs are “unobsessed” with AI, but are becoming more and more annoyed as software fails to increase revenue.
“At the enterprise level, AI is difficult. I talk to CEOs almost every day. Their complaints are mostly. How can I make an organization run fast enough?” Sweet told the publication. “They recognize that it's not about technology, it's about the willingness to truly reinvent their work, the workforce.”
It's not difficult to see where frustration comes from.
Recent research shows that today's AI software fails to generate any kind of revenue in 95% of companies trying to incorporate it into their workflows.
At the same time, there could be some pretty dramatic results from a failed AI rollout. The Rogue AI program wiped out its own databases, opened the door to catastrophic data breaches, and filled businesses in a costly, legal battle.
Some companies will ultimately end up paying human costs. Several companies, like Klarna and Commonwealth Bank of Australia, are forced to return to ambitious AI automation schemes after finding the difficult way for AI to create poor alternatives to human labor.
Ultimately, whether it's troublesome or not will likely depend on the throat rung of the company you occupy.
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