26 Percent of European Software & Tech Firms to Cut Jobs Due to Generative AI With ChatGPT

26% of European Software And Tech Firms to Cut Jobs Due to Generative AI With ChatGPT

According to a survey conducted by Sortlist Data Hub, it has been found that 26% of European software and tech companies are planning to reduce their workforce due to the emergence of ChatGPT and ChatGPT-based apps. Right-skilling for the AI-powered economy is therefor key to secure the future of your work and income, whatever career change to want to make or need to make:

Finance companies also face a potential decrease in jobs, with 22% of them considering the same action. Interestingly, while 23% of tech workers perceive ChatGPT as a threat to their job security, only 14% of finance employees share the same concern.

Among the various roles at risk, marketing and PR employees are the most vulnerable, as half of the companies planning job cuts anticipate using ChatGPT to replace these positions. Surprisingly, only 25% of marketing and PR workers are worried about the possibility of their jobs being replaced by ChatGPT.

The survey also reveals that 43% of companies are interested in employing ChatGPT as a marketing copywriter, whereas only 36% of workers believe that the chatbot will be used in this capacity. The survey encompassed 500 ChatGPT users from the United Kingdom, Belgium, Germany, Spain, the Netherlands, and France.

In terms of generational attitudes towards ChatGPT, millennials, in general, showed the highest level of anxiety about potential job loss, with 43% expressing concern. Specifically, millennial tech workers were twice as worried as their counterparts, though they believed that ChatGPT would primarily be used for writing tasks, such as answering customer inquiries (50%) and reaching out to potential clients (38%), rather than coding.

More: The Great AI-Layoff, ChatGPT and the future of work & Book AI speaker Tony de Bree

In the finance industry, millennials expressed twice as much worry about job cuts compared to other generations. They not only believed that ChatGPT would replace marketing copywriters but also employees responsible for data analysis.

When it comes to productivity gains, approximately one-third of both employees and companies expect a 25% to 50% increase as a result of using ChatGPT. Hybrid working, working at home of remote working:

However, in the marketing and PR sector, 41% of companies believe that ChatGPT will double their productivity. Among different age groups, employees between the ages of 18 and 24 are the most optimistic, stating that ChatGPT will double their productivity. On the other hand, the least optimistic group is the 45-to-54 age cohort, with less than 5% sharing this sentiment.

Everybody van apply these a-driven productivity hacks in their organization:

Regarding the application of a watermark on AI-generated content, 82% of employers believe that it would not impact their use of ChatGPT. However, those who do find it significant are primarily concerned about appearing untrustworthy when engaging with customers and answering client queries.

Interestingly, employers in the software and tech industry are nearly twice as likely to demand supervision when using ChatGPT compared to other industries. Among the employers who would pay less than €50 a month, 54% expressed a lack of trust in ChatGPT’s ability to work unsupervised, suggesting that it should be checked or used solely as a source of inspiration.

Schedule a call.

If you are a IT-professional, executive, manager or other employee working in the software and/or tech industry and you are worrying about the future of your work and you want to learn how you can use ChatGPT for the future of your work or if you want to start and grow your own online business, contact us today for a free online intake session. Please email your mobile number and the link to your LinkedIn profile using this form. Then we immediately will contact you to schedule that call or face-to-face meeting.

Kind regards,
Tony de Bree

p.s. Let’s connect on  LinkedIn  and follow me on  Instagram and on Twitter @tonydebree & @fintechtrends.