AI is replacing “soul-crushing jobs,” says ServiceNow CEO#shorts #artificialintelligence #jobs

Bloomberg Technology · Intermediate ·📰 AI News & Updates ·1y ago

Key Takeaways

ServiceNow CEO Bill McDermott discusses how AI is replacing soul-crushing jobs, such as IT support and customer support, with agentic AI, and how this is cutting labor costs and accelerating the speed of the company. He also talks about the need to change the way businesses run their processes and org charts to work with AI agents.

Full Transcript

We're slowing down the hiring in jobs that are quite frankly soulcrushing jobs. I mean just think about like IT support. You know 97% of standard software automatically generated by AI now and the pressure on supporting function and people has been cut in half. uh customer support 80% of the customer inquiries and cases now are fully managed by agentic AI and think about security and risk management in real time all the patchwork and the change management is done by agents now and the same is true of go to market you know think about people that talk to customers there's no prep work anymore their AI teammate is doing that for them at service now so the speed of the company has accelerated dramatically they're supporting chaos of the soul crushing work is now being done by agents. They work hard 24 by7. You don't have to pay them and uh they don't eat any lunch and they don't have any health care benefits. So they're very affordable and that really complements our workforce. So we're still hiring but we're hiring less in those supporting functions. And I suppose that's going to happen to all well-run companies. And I say that because we now need to think about how you run a corporation on Service Now. how you change the way you run your business processes. It could be order to cash, procure to pay, hire to retire, design to product. These are all processes that go across functions. And we need to have those 20th century org charts obliterated. We now need to work in teams. Teams need to work across processes and the agents need to be the best friend to humans. And if we do this right, the GDP of the world will go up. companies will outperform not just on the opex, cost, takeout, and productivity, but they will be building new horizons, new business models, and new dreams on the Service Now platform. And we're excited.

Original Description

“We’re slowing down the hiring in jobs that are, quite frankly, soul-crushing jobs," ServiceNow CEO Bill McDermott said on Bloomberg TV. He told Caroline Hyde the company is cutting labor costs with artificial intelligence. More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts
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AI is replacing soul-crushing jobs with agentic AI, and businesses need to adapt their processes and org charts to work with AI agents. This can lead to increased productivity, cost savings, and new business opportunities.

Key Takeaways
  1. Identify soul-crushing jobs in your organization
  2. Assess the potential for AI automation
  3. Implement agentic AI solutions
  4. Change org charts and business processes to work with AI agents
  5. Monitor and evaluate the impact of AI on your business
💡 AI can accelerate business processes and cut labor costs, but requires organizational change and adaptation.

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