PwC invested $1 billion in reskilling workforce for AI through 'your tomorrow' program.
AI adoption varies across industries, with non-regulated sectors like consumer businesses leading the shift.
Deep dives
PWC's Commitment to AI
PWC invested heavily in reskilling its workforce about AI, starting with their 'your tomorrow' program focused on teaching employees new digital skills. This led to a billion-dollar initiative to educate staff on AI alongside a collaboration with Microsoft and OpenAI. The investment aims to develop AI solutions for clients, following a successful track record in teaching employees new skills.
Applications of AI in Different Industries
AI adoption varies across industries, with non-regulated sectors like consumer businesses leading the shift due to lower compliance risks. In PWC's case, AI streamlines tasks in auditing, tax, and consulting, improving efficiency and accuracy. The human-led, tech-powered strategy ensures AI complements human skills, allowing for critical thinking and innovation.
Managing AI Integration and Future Outlook
PWC's AI investment strategy includes training its 65,000 workforce in AI basics through gamification and personalized learning journeys. Tim Ryan emphasizes the importance of human-centered AI applications and highlights the need for continuous learning and adaptation in an evolving technological landscape. While acknowledging AI's potential challenges, such as dehumanization and responsible use, Ryan remains optimistic about AI's role in driving economic growth and job creation.
Rapid Response with Bob Safian: How do you re-skill a 65,000-strong workforce to prepare for the AI revolution? PwC recently invested $1 billion into AI, hoping to unleash never-before-seen potential for employees and clients. US chief Tim Ryan explains why and how the money will be spent, plus shares what he’s advising fellow CEOs about which industries are most poised for change from AI and how leaders everywhere can address both opportunities and anxieties around AI.