CEOs are increasingly acknowledging the significant impact of artificial intelligence (AI) on the workforce, a sentiment echoed by labor market experts for months. As AI adoption becomes essential, leaders across various sectors, including banking and consulting, are rapidly restructuring their operations. A recent study by IBM indicates that CEOs anticipate their investments in AI to more than double in the next two years, with 61% already implementing AI agents on a large scale.
During a recent workforce conference, Walmart CEO Doug McMillon articulated the sweeping changes AI will bring, stating, “It’s very clear that AI is going to change literally every job.” Walmart has already integrated AI into its operations through the development of chatbots designed to assist customers, suppliers, and merchants. Additionally, new roles have emerged, such as “agent developers,” responsible for creating AI tools to streamline workflows within the company.
Despite the automation potential of AI, McMillon assured that this evolution will not lead to mass layoffs. “Our goal is to create the opportunity for everybody to make it to the other side,” he explained. While some roles at Walmart may be phased out, new positions will also be generated. The retailer aims to maintain a workforce of approximately 2.1 million employees globally over the next three years, though the nature of these jobs is expected to evolve, as highlighted by Walmart’s chief people officer, Donna Morris.
To effectively prepare its workforce for these changes, Walmart is actively monitoring job types to identify which are increasing, decreasing, or remaining stable. This commitment to job retention sets Walmart apart in a landscape where many other corporations are delivering stark news about workforce cuts.
Accenture’s CEO, Julie Sweet, recently noted that the rapid adoption of AI has resulted in job losses this year, with further layoffs possible if reskilling initiatives are not feasible. Similarly, Salesforce CEO Marc Benioff revealed that the company eliminated 4,000 customer support roles this year, directly attributing these cuts to efficiency gains driven by AI technology. Dario Amodei, CEO of Anthropic, warned that AI could potentially eliminate approximately half of all entry-level white-collar jobs within five years, resulting in a possible unemployment spike to 20%.
Conversely, OpenAI Chief Executive Sam Altman expressed optimism about the future workforce, especially for younger individuals entering the job market. He believes that in a decade, college graduates will occupy “some completely new, exciting, super well-paid job,” rendering current entry-level positions comparatively mundane.
The future dynamics of Walmart’s labor force remain uncertain, and Morris has underscored the importance of thorough research to navigate these changes effectively. Nevertheless, McMillon reaffirmed the company’s commitment to face-to-face interactions even as it leans into AI solutions. Recently, tech firm Symbotic entered an agreement with Walmart for a $520 million investment to develop an AI-enabled robotics platform aimed at enhancing shopping convenience through faster online order pickup and delivery.
While automation and robotics are increasingly becoming part of the retail landscape, McMillon noted the continuous need for human engagement, emphasizing that until technology can replicate human spending behaviors, the focus will remain on serving people.
