The global head of AI at PwC, Joe Atkinson, stated that businesses adopting artificial intelligence (AI) rapidly are achieving remarkable results, with reports indicating a threefold increase in revenue per employee. During an interview on CNBC’s Squawk Box Asia, Atkinson emphasized the overwhelming pace of AI development, which he believes presents both challenges and opportunities for organizations and their workforce.
Atkinson described the current landscape of AI implementation as “complex,” noting a significant gap between the speed of technological advancements and the ability of organizations to adapt effectively. He remarked, “It’s a complex time in the world of AI implementation,” highlighting the widespread concern among employees, management, and corporate boards regarding how AI could impact jobs and operations.
PwC, a leading consulting and accounting firm, has become a vital resource for global companies seeking guidance on navigating the shift towards an AI-centric business model. Atkinson pointed out that the focus is now on scaling AI capabilities within organizations. “We’ve talked for the last year about proofs of concept and experimentation, and frankly, those days are over. We now have to scale the impact of AI in organizations,” he explained.
The potential benefits of integrating AI are significant, according to Atkinson. He stated that companies that embrace AI swiftly can expect not only enhanced productivity but also substantial growth opportunities for employees. “The good news for employees is if we scale the impact of AI for organizations, I truly believe we create and unlock growth,” he said.
PwC’s internal data supports Atkinson’s claims, showing that organizations that adopt AI at a faster pace have experienced three times the revenue per employee compared to their slower counterparts. This data suggests that leveraging AI tools can lead to increased productivity and creativity, benefiting both the organization and its workforce.
As AI technology continues to evolve, PwC and similar firms are positioning themselves as early adopters of these innovations. They are implementing AI solutions across their operations, effectively becoming “client zero” for the services they offer. This trend is reshaping hiring practices, with Jenn Kosar, PwC’s AI assurance leader, indicating that new hires will occupy roles traditionally held by managers within just three years due to AI advancements.
The impact of AI on hiring strategies has been significant. An internal presentation obtained by Business Insider revealed that PwC US plans to reduce graduate hiring by a third over the next three years, citing “the impact of AI” as a key factor in this decision.
As AI technology continues to transform the business landscape, organizations that adapt quickly will likely reap the rewards, while employees must navigate the evolving job market shaped by these advancements.
