AI could enable millions of people to adopt a four-day workweek by the year 2033
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Approximately 8.8 million employees in the UK can transition to a 32-hour workweek with the assistance of AI
A new report suggests that nearly a third of the UK's workforce, approximately 8.8 million workers, could be working a four-day week by 2033, thanks to the widespread adoption of advanced artificial intelligence technology.
This prediction counters concerns about AI potentially displacing human jobs, as AI has demonstrated its capability to take on tasks currently performed by humans. A recent LinkedIn survey revealed that almost half of European workers expect AI to have a significant impact on their work in the coming year. AI tools like OpenAI's ChatGPT and Google's Bard can generate entire articles and business plans rapidly, while image generation tools can create photorealistic images quickly, raising questions about job security for human artists.
The report presents a more optimistic view of AI's influence on the workforce. According to the GPT-4 (Day Week) report, 28 percent of the UK workforce, or 8.8 million workers, could transition to 32-hour, four-day workweeks with the aid of AI. An additional 88 percent of the country's workforce, approximately 27.9 million individuals, could experience a reduction in working hours by at least 10 percent. Autonomy based its calculations on a 1.5 percent annual productivity increase from AI, as estimated by Goldman Sachs, along with data from the US Department of Labor's Occupational Information Network (O*NET).
The report outlines two scenarios for utilizing AI to boost productivity while improving working conditions for employees, specifically focusing on implementation in local authorities in the UK. These scenarios involve either a 20 percent reduction in working hours while maintaining the same pay or a 10 percent increase in worker productivity, allowing for a 10 percent reduction in working hours while keeping the same pay.
Autonomy's director of research, Will Stronge, believes that a shorter working week is a practical way to ensure that AI benefits both workers and companies, ushering in a new era of four-day workweeks for everyone. Several four-day week trials have already shown either sustained or improved productivity levels, along with significant benefits for worker well-being.