Some German firms see AI reducing need for degrees, Ifo says
FILE PHOTO: Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
FRANKFURT, June 12 : Close to 20 per cent of German companies that use artificial intelligence are finding it easy to replace employees with university degrees with AI-enabled staff without a degree, a survey by German economic research institute Ifo showed.
• The survey also showed that about 15 per cent of the companies surveyed deemed it easy to replace experienced employees with AI-enabled staff with less experience
• “AI is transforming the world of work and in some areas can even partially replace formal qualifications and experience,” says Ifo researcher Anna Ruffert
• Retail and wholesale trade companies signalled the highest readiness to make those staff switches among sectors, Ifo added
