Artificial Intelligence does not destroy employment in Europe… for now, according to the ECB.

Contrary to common beliefs, the effects of AI on the job market remain positive so far, assert researchers from the BCE. A finding based on a survey conducted last year among approximately 5,000 companies in the old continent. The main lesson is that AI does not replace workers massively in Europe, technology even being able to accompany new hires.

A still rather positive balance in Europe

And this does not mean that AI is ignored by European companies, quite the contrary. About two-thirds of the surveyed companies state that their employees use AI tools, with significant differences depending on the company size: nearly 90% of large companies (250 employees or more) use them, compared to about 60% of very small structures.

On the contrary, only a quarter of companies actually invest in AI. The reason is simple: many tools are easily accessible online and can be used without heavy investment. This even allows small businesses to adopt AI without having to invest in specific infrastructure.

Researchers from the European institution state that there is no significant difference in job creation or job losses, at least as of the time of the survey. This survey focused more closely on trends in companies that heavily use AI and was surprised: they are about 4% more likely to hire than others. And those that invest in AI have nearly 2% more chances to recruit. A trend especially visible in small businesses.

In the short term, companies that already use AI do not foresee a major change in their workforce. On the other hand, those that intend to invest in AI anticipate more often an increase in recruitment. The technology requires personnel for its deployment and the development of new uses.

Not all is positive, however. Some studies, notably in Germany, estimate that job cuts could appear in the long term, over a horizon of about five years. The ECB also notes that results may vary by region: the adoption and investments in AI are much more significant in the United States than in Europe, which may explain why some American studies mention more job losses.

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Source : ECB