Two key tech themes of 2023 are layoffs and AI (ChatGPT, etc.). An eerie coincidence nobody’s seeing yet. A new Bloomberg MLIV survey shows economists and investors don’t use AI, and don’t see their jobs at risk. But they like AI bets.
The chart above shows folks in most investing jobs see little threat from robots unseating them. Salespeople are a notable exception, with more than half believing AI will take their jobs in 3 years.
Naturally, as a salesperson I don’t agree, and my bet is that this chart will flip.
My stupid human belief is that AI will replace more research people than salespeople in the next 3 years because AI is better suited to replace research than relationship management.
The chart below shows a relatively low AI adoption rate among investors, with only 12% saying they used AI and only 27% say they plan to, per Bloomberg.
Sure, until the bosses who own the robots say you have to use robots and/or tell you the robots — or early career kids who run the robots — are replacing you.
Speaking of owning robots, investors do like these AI bets: 49% say they planned to buy stocks with exposure to AI.
As for AI potential to take tech jobs, investors are still watching.
Even after tens of thousands of Alphabet, Dell, and other Big Tech job cuts recently — including Microsoft cutting 10,000 jobs after investing $10 billion in ChatGPT creator OpenAI — only 11% of investors think those cuts are too big.
Like me, these investors think robots are coming for someone else’s job. Stupid humans.