Mohamed Kande, the global chairman of PwC, has indicated that the rise of artificial intelligence (AI) might lead to a decrease in the hiring of entry-level graduates. However, he clarified that recent job cuts at the firm were not a direct consequence of AI. Instead, PwC is actively seeking to hire hundreds of AI engineers but is finding it challenging to locate qualified candidates.
Kande made these remarks during a business summit in Singapore, where he also discussed the impact of global economic shifts, such as the tariffs implemented by former US President Donald Trump, which he described as beneficial for the firm’s consulting operations. He addressed the company’s previous suspension in China linked to its involvement with the now-collapsed real estate firm Evergrande, assuring that similar issues would not recur.
PwC, headquartered in London, offers various services, including financial auditing and consulting, to clients worldwide. Kande stated that advising clients on AI integration would be central to the firm’s future strategy, even as these technological advancements influence their hiring methods. Traditionally, tasks that required extensive consulting work may now be handled by AI in significantly shorter timeframes.
In the previous year, PwC hired thousands of graduates, including 1,300 in the UK and 3,200 in the US. However, the firm has abandoned its long-term plan to increase its workforce, initially aiming to recruit 100,000 employees over five years. Kande acknowledged that the hiring landscape has shifted due to AI, suggesting that the nature of future hires will be different from those in the past.
Last year, PwC also eliminated over 5,600 positions globally. Despite the transformations brought by AI, Kande maintains that it remains an “exciting time” for job creation, with the firm actively seeking engineers to support its AI initiatives.
Source: https://www.bbc.com/news/articles/cm272510e6jo?at_medium=RSS&at_campaign=rss