A recent global survey of CEOs by Oliver Wyman reveals a significant shift in hiring trends, with a substantial increase in executives planning to reduce junior roles over the next year or two. The survey found that 43% of CEOs intend to decrease junior positions, up from 17% last year, while 30% are shifting their focus towards mid-level positions, a rise from 10%.

This shift is largely attributed to the current capabilities of AI, which excels at automating tasks commonly performed by junior staff, making this group particularly vulnerable to disruption. Despite the growing adoption of AI, more than half of CEOs believe it’s too early to assess whether AI is delivering on its promised productivity gains. Only 27% reported that their return on AI investment had met or exceeded expectations, down from 38% last year.

While mid-level employees may seem better off than their junior counterparts, the overall trend indicates a move away from hiring. The survey showed that 74% of CEOs are either freezing or reducing headcount, up from 67% last year. This suggests that the impact of AI on the job market is complex and far-reaching, with significant implications for workers of all levels.

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