Bill Winters, chief executive of Standard Chartered, sparked controversy after referring to some employees as “lower-value human capital” in the context of planned job cuts and AI implementation. He later apologized for the remark, but his comment underscored widespread concerns about the impact of artificial intelligence on employment and the future of work.

Recent research reveals that nearly 60 percent of the British public fear AI could lead to significant unemployment, with over one in five anticipating potential civil unrest as a consequence. In contrast, many in the corporate world argue that AI will relieve humans from repetitive or undesirable tasks, allowing people more leisure and creative opportunities. However, the reality appears more complex.

A detailed eight-month study conducted by Harvard Business Review into a U.S.-based technology company with 200 employees found that AI has contributed to increased workloads and higher work intensity rather than easing pressure. The integration of AI blurred professional boundaries, pushing employees to take on tasks beyond their traditional roles. For example, product managers started writing code, and researchers began engaging in engineering tasks, partly because AI enabled and encouraged this cross-functionality.

This role fluidity led to more multitasking and increased risks, as AI-generated competence can mask a lack of genuine expertise. Managers face additional challenges overseeing these hybrid responsibilities. Such dynamics raise questions about the broader implications across organizational hierarchies, including executive roles. If AI systems can undertake complex decision-making and scenario planning, the value of human leadership, including CEOs, might be substantially diminished.

Historically, technological advances have often created more jobs than they displaced. The World Economic Forum predicts AI could generate twice as many jobs as it eliminates. Nonetheless, the rapid pace and scale of AI adoption might disrupt this pattern, making past trends less predictive. The notion that work itself could become obsolete has deep intellectual roots. Philosopher Thomas More’s concept of a utopian society without labor and Oscar Wilde’s vision of humanity enjoying contemplation while machines handle tasks reflect longstanding debates.

Similarly, economist John Maynard Keynes predicted in a 1930 essay that productivity gains would lead to a 15-hour workweek by the present day, a forecast yet unrealized. Whether increased leisure time is beneficial depends on how it is used—whether it fosters cultural and personal enrichment or leads to social disengagement remains uncertain.

Billionaire entrepreneur Elon Musk has proposed providing a universal income to decouple survival from employment, making work “kinda like a hobby.” Yet, such ideas highlight the contrasting experiences shaped by AI advancements—while some envision a leisure-rich future, others face immediate job insecurity, exemplified by Standard Chartered employees impacted by automation-driven layoffs. The evolving relationship between AI and the workforce continues to provoke debate about economic, social, and ethical consequences worldwide.