46% of Canadian CEOs eyeing AI-driven growth with smaller staff, poll shows (www.cbc.ca)

A recent survey conducted by EY-Parthenon reveals that 46% of Canadian CEOs believe artificial intelligence will enable their companies to achieve growth targets with a smaller workforce. This perspective comes amid a wave of AI-related layoffs in large firms, including Microsoft's offer of voluntary buyouts to 60,000 employees as part of an effort to fund AI investments. The survey, which polled 50 leaders from major Canadian companies, highlights a shift from merely seeking efficiency to focusing on value creation through AI, with respondents reporting higher output without the need for additional headcount or resources. Despite concerns surrounding potential job losses, experts urge caution in interpreting these trends as an “AI job apocalypse.” Viet Vu from Toronto Metropolitan University's Dais think-tank emphasizes that while AI will considerably impact employee roles and workplace dynamics, it is unlikely to lead to widespread job cuts. In fact, 82% of CEOs surveyed expect the focus to be on reshaping roles and skill sets rather than decreasing workforce size. As automation continues to evolve, office workers may need to adapt by acquiring new skills, though industries like construction remain less susceptible to immediate disruption.