Younger Workers More Anxious About AI Job Replacement, Deutsche Bank Survey Finds

Artificial intelligence (AI) is rapidly transforming the global labor market, but its impact varies significantly across different demographics. A recent survey conducted by Deutsche Bank, involving 10,000 employees from major economies in the United States and Europe, revealed a stark contrast in how different age groups perceive the threat of AI to their jobs.

Younger employees, who are generally more familiar with digital technologies, expressed higher levels of anxiety about AI replacing their jobs compared to their older counterparts. The survey found that 24% of employees aged 18 to 34 were "very worried" about losing their jobs to AI within the next two years, compared to only 10% of employees aged 55 and above. This disparity highlights a significant generational gap in the perception of AI's impact on employment.

The survey also uncovered geographical differences in AI adoption and attitudes. American employees were more concerned about AI replacing their jobs than their European counterparts, with 21% of Americans expressing "very high" concern compared to 17% of Europeans. This difference may reflect the faster adoption rate and higher social awareness of AI technology in the United States.

Despite the widespread recognition of the need for AI-related skills, there is a significant gap in training opportunities. The survey showed that 54% of American employees and 52% of European employees wanted to receive AI training at work. However, only about one-third of American employees and one-quarter of European employees had received any form of AI training. This shortage in training highlights the urgent need for more comprehensive educational programs to prepare the workforce for the AI era.

Trust remains a critical barrier to the widespread adoption of AI. While AI has made initial inroads in areas such as personal assistants and content creation, there is a general lack of trust in its reliability and accuracy. The survey indicated that users are skeptical about AI's capabilities in high-stakes fields like finance and healthcare, where accuracy and reliability are paramount. The probabilistic nature of large language models, which can sometimes produce "hallucinations" and biases, further erodes user trust.

In conclusion, the survey by Deutsche Bank underscores the complex interplay of age, geography, and trust in shaping attitudes towards AI. As AI continues to reshape the labor market, addressing these challenges will be crucial for ensuring a smooth transition and minimizing the negative impact on employment.