DAVOS: Concerns over artificial intelligence (AI) failing to dampen enthusiasm, business leaders at the World Economic Forum in Davos projected confidence that AI will create jobs rather than eliminate them, coining a mantra that echoed across the Swiss resort: “jobs, jobs, jobs”.
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Top executives acknowledged that some roles would disappear but argued that AI-driven growth would generate new employment opportunities across industries. Nvidia CEO Jensen Huang, one of the most prominent champions of AI’s expansion, said investment in energy, chips and infrastructure would lead to higher wages and increased demand for skilled labour, including plumbers, electricians and steelworkers.
#AI is here to stay – so how should the #workforce be redesigned? Clearly differentiating between human and machine roles will be vital #WEF26 https://t.co/KK2XKhYSsP
— World Economic Forum (@wef) January 23, 2026
The upbeat outlook contrasted with broader geopolitical tensions that hovered over the forum, including trade frictions involving the United States and Europe. While US President Donald Trump moved to avert a tariff dispute with Europe, scepticism around AI’s social impact persisted beneath the optimism.
Labour leaders warned that AI was often framed as a productivity tool to justify workforce reductions. Christy Hoffman, head of UNI Global Union, said automation frequently meant “doing more with fewer workers”, fuelling anxiety among employees.
Executives, however, argued that AI has reached a stage where tangible returns are emerging. Rob Thomas, IBM’s chief commercial officer, said companies can now automate tasks and processes at scale, while firms such as BNY and Cisco reported dramatic reductions in research and project timelines.
Still, doubts remain over profitability. Consultancy PwC found that only one in eight CEOs believed AI was significantly cutting costs or boosting revenue, highlighting uncertainty over sustainable business models amid rising expenses.
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Some firms stressed expansion rather than downsizing. BlackRock said it aimed to keep headcount flat while growing assets, though others, including Amazon, were planning further job cuts.
Microsoft co-founder Bill Gates called for preparedness to manage AI-driven disruption, suggesting measures such as taxing AI activity to support affected workers, while urging policymakers to better understand the technology’s potential.