Semafor summit executives urge reskilling over layoffs as AI advances
Business
At the Semafor World Economy summit, top executives said the smart move is to help employees learn new skills instead of cutting jobs as AI gets better at human tasks.
With entry-level roles changing fast and AI set to handle even more work by 2029, companies are focusing on reskilling their teams to keep everyone in the game.
PwC, Cisco lead employee reskilling
PwC and Cisco are leading by example: PwC's partnership with Wyndham cut call times by 30% while helping staff grow their skills.
Cisco now requires all employees to complete AI training tailored to different experience levels.
There is also talk of tax credits for companies that invest in workforce training, making it easier for everyone to keep up with tech changes.