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Verizon (VZ.US) CEO Says AI to Impact Workforce, Expects Unemployment Rate to Rise to at Least 20%
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Dan Schulman, Chief Executive Officer of US telecom operator Verizon (VZ.US), said in an interview with The Wall Street Journal that AI will impact the workforce and projected that the unemployment rate will reach 20% to 30% over the next two to five years. He warned that advances in humanoid robots could disrupt manual labor jobs that are currently considered secure. He added that this is a very challenging period, and everyone knows it, so the key is to be as truthful as possible. Verizon laid off 13,000 employees starting last year, marking the largest round of job cuts in the companys history. Dan Schulman said the move was necessary to improve efficiency and aimed at reducing costs by USD9 billion. Dan Schulman also told investors at an event that the company had too many layers, too much bureaucracy, and was overly focused on processes rather than results. At meetings, he repeatedly told employees that they must embrace AI, describing it as central to the companys future. He also advocated strengthening education and skills retraining to help workers adapt to accelerating technological disruption. When the company implemented layoffs last year, it also established a USD20 million career transition and retraining fund. (ss/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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