Summary
The head of PwC stated that the increase in artificial intelligence (AI) could lead to hiring fewer entry-level graduates. AI is not behind the company's recent job cuts, but the firm is focusing more on hiring AI engineers. The global economy's changes, such as tariffs from President Trump, have helped the firm's consulting business.
Key Facts
- PwC's global chairman, Mohamed Kande, mentioned AI could reduce the hiring of entry-level graduates.
- PwC needs to hire many AI engineers, but they find it difficult to recruit them.
- PwC is one of the Big Four accounting firms, offering auditing, consulting, and tax services globally.
- The firm hired thousands of graduates annually but recently decided to cut back on growing its workforce.
- AI is expected to replace some tasks traditionally done by PwC consultants, like data analysis.
- PwC experienced job cuts of more than 5,600 roles globally last year.
- The global economy, influenced by President Trump's tariffs, has benefited PwC's consulting business.
- In China, PwC faced suspension due to issues related to the Evergrande property giant but has since made changes to avoid past mistakes.
