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New Poll: Nearly Half of CEOs Fear AI Could Outpace Them, Calling it a Potential Revolution Bigger than the Internet

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AI's Potential to Transform CEO Roles: A New Poll Reveals

A recent survey conducted by online education platform edX reveals that nearly half of CEOs, 49% to be precise, believe that artificial intelligence (AI) has the potential to effectively replace "most" or even "all" of their own roles. Furthermore, 47% of CEOs view this as a positive development. The survey, which included 1,600 full-time U.S. workers, including 800 C-suite executives and CEOs, sheds light on the transformative power of AI, according to edX founder Anant Agarwal. Agarwal, who also serves as the chief platform officer of edX's parent business, 2U, and is a professor at MIT, notes that this belief in the transformative nature of AI is not a passing trend but a significant development that could be even bigger than the internet. While AI has the potential to replace mundane tasks and assist with analyzing market data and improving business operations, experts acknowledge that it will be challenging for AI to replicate the "soft skills" that define a good CEO. Skills such as critical thinking, vision, creativity, teamwork, collaboration, and inspiring people cannot easily be replicated by AI. This suggests that while AI may change the nature of CEO jobs, human bosses are likely to remain in their positions, albeit with radically different roles. Delegating mundane tasks to AI could allow CEOs to focus on their core responsibilities, such as envisioning new products and driving sales. The impact of AI extends beyond CEOs, as the survey reveals that C-suite executives believe that 49% of the skills in their current workforce will not be relevant by 2025. Additionally, 47% of workers are not prepared for the future of work. While only 20% of non-executive workers believe that AI could replace "most" or "all" of their jobs, executives are already seeking employees with AI skills. In fact, 87% of executives report struggling to find workers with these skills. This growing demand for AI skills is reflected in the job market, with U.S. employers offering lucrative salaries averaging over $146,000 for roles requiring AI expertise. The survey also highlights a generational divide, with 62% of Gen Z respondents actively learning new AI skills to gain a competitive advantage in the job market. This trend emphasizes the importance of upskilling and staying ahead in an AI-driven world. In conclusion, the survey's findings underscore the transformative potential of AI in reshaping CEO roles and the broader workforce. While AI may not entirely replace human bosses, it will undoubtedly change the nature of their jobs. The demand for AI skills is growing, and workers must adapt and upskill to remain competitive in the evolving job market. Embracing AI and acquiring relevant skills can empower individuals to thrive in a future where AI plays an increasingly prominent role.

Implications for New Businesses: An Insightful Take

The transformative potential of AI, as revealed by the edX survey, could have significant implications for new businesses. As AI continues to evolve, it's clear that it will play an increasingly prominent role in reshaping job roles, particularly at the executive level.

Challenges and Opportunities

New businesses may face challenges in attracting and retaining talent due to the growing demand for AI skills. However, they can also leverage AI to streamline operations and improve decision-making, thereby creating opportunities for growth and innovation.
Strategic Considerations
New businesses should consider these trends when developing their strategies. They may need to invest in AI technologies and upskill their workforce to stay competitive in the evolving market landscape. In conclusion, the rise of AI presents both challenges and opportunities for new businesses. By embracing AI and investing in relevant skills, new businesses can navigate these challenges and seize the opportunities that arise. As AI continues to transform job roles and the broader workforce, businesses that adapt and evolve will be best positioned to thrive in the future.
Story First Published at: https://www.cnbc.com/2023/09/19/nearly-half-of-ceos-believe-ai-could-replace-their-own-jobs-poll.html
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