ChatGPT Will Cause 26% of European IT Companies To Cut Jobs

Credit: Rolf van Root/Unsplash

It seems that AI will eliminate your employment, as reported by AI Business.

Job loss

According to a recent survey by Sortlist Data Hub, 26% of European software and tech organisations, followed by banking companies with 22% of those anticipating job cuts, are directly affected by ChatGPT.

Yet, when asked if ChatGPT is a threat, just 14% of the financial staff and 23% of the IT staff agree.

The most susceptible employees are those in marketing and Publicity, where ChatGPT is expected to replace these positions in half of the organisations considering job losses. Only 25% of marketing and PR professionals worry that their jobs are in danger, suggesting that they are still largely unaware of the issue.

It’s interesting to note that while just 36% of employees perceive ChatGPT as being used in marketing, 43% of businesses wish to hire it as a copywriter.

500 ChatGPT users from the UK, Belgium, Germany, Spain, the Netherlands, and France participated in a Sortlist poll.

Across generations

The generation known as millennials, or those born between 1965 and 1980, expressed the greatest concern about ChatGPT replacing their occupations, with 43% of them saying so.

But, young computer professionals are twice as concerned. However, they think that rather than coding, ChatGPT would be utilised more for writing, such as addressing consumer inquiries (at a rate of 50%) and client outreach (at a rate of 38%).

In the financial industry, millennials were twice as likely as older generations to worry about job losses. They believe that ChatGPT will not only take the position of data analyst but also the author of marketing content.

Productivity gains, watermarking

A third of businesses and employees report that utilising ChatGPT has increased productivity by 25% to 50%. Yet, 41% of businesses report that ChatGPT has doubled their productivity in marketing and PR.

Employees between the ages of 18 and 24 are the most optimistic, predicting that ChatGPT will treble their productivity. The 45-to-54 age group is the least bullish, with less than 5% expressing this opinion.

And 82% of employers believe that their use of ChatGPT would not change if a watermark were to be placed on AI-generated content. Yet, those who think it would matter are most worried that it would make them appear unreliable when they interact with customers and respond to inquiries from them.

Will people pay for ChatGPT?

For business use, OpenAI is developing a premium paid version of ChatGPT that would provide access during busy times and quicker responses.

Software and technology organisations were the ones most prepared to pay for ChatGPT Professional, with 32% offering over €250 ($266) per month and 52% going even higher, to over €500 ($532). But only 19% of those in the finance industry would spend more than €250 a month.

Employers in the software and computer sector are, however, almost two times less likely than those in other sectors to trust ChatGPT to work independently. Employers that were ready to pay less than €50 per month reported that 54% would not trust ChatGPT to operate independently and thought it should be checked or only used as inspiration.

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Source: AI Business


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