We’re all going to be out of work,” screams the panic lovers amid the news about AI. We’ve developed a calculator and determined that the cuts will impact almost all areas, proving highly profitable for business.

This is Innova. We specialize in developing tech products and implementing AI solutions across various business sectors. We tell you about our calculator, which calculates how many people will be unemployed when AI technologies are implemented.

And also how much the business will save on this. Let’s look at the examples of Yahoo!, TD Bank, and Costco. While these are not our clients, it is interesting to see how much they can save simply by implementing AI.

Why we decided to create a calculator

Our marketer, Kate, has been following the development of AI since 2018, and since last year, after the launch of ChatGPT, she has been living in anticipation of the end of the world. And like the heroine of the movie ‘Don’t Look Up,’ Kate Dibiasky, she is waiting for the worst.

Besides the fact that Kate realizes that all marketing can be handed over to AI, she was walking around the office and just pestered us with her ‘WE’RE ALL going to be out of a job!’ attitude. To calm Kate down and bring her back to the present, we made a calculator.

The good news: not everyone will lose their jobs after all.

The bad news is that many people will face job losses. It’s a consequence of the profitability of AI and the workings of capitalism — nothing personal.

The AI calculator is a business automation tool. It demonstrates the potential reduction in workforce and highlights the benefits this could bring to the company.

The terms GenAI, LLM, and ChatGPT are emerging from every corner, and everyone has heard about the amazing business opportunities. Companies have questions about what can already be used, how long it will take to implement, and how much it will cost.

Our team observes this phenomenon in the requests from our clients and partners. In this field, as in many others, the devil is in the details: determining which LLM model to choose, deciding whether to run the prototype on ChatGPT or on-prem models, and assessing whether a specific model is practically suitable for solving the problem.

And the main question is: whether the hypothesis that it adds value to the business is confirmed? On average, it takes 2 weeks and several calls with our team to “dive” into a case and form a business concept on how to approach the AI “shell”.

Sometimes, companies decide not to proceed after realizing they may not be ready to implement AI. It may not be profitable for them, or optimization will take a lot of resources and time. The calculator provides a free and quick way to assess whether AI is necessary for your business before scheduling a consultation.

In what ways have we calculated

The calculator, under the hood, employs a blend of fixed strategies and AI algorithms to conduct its analysis. Because of this, results can vary for identical inputs. What does this depend on? Largely on the quality of the input data, but also on the phase of the moon and the mood of OpenAI. For example, the day Sam Altman was fired — he sometimes suggested that everyone should be fired! That’s what a bad mood 🤯

How can Yahoo! be automated?

Let’s imagine that Yahoo! has decided to implement AI. In total, the company employs 11 thousand people according to the report for Q3 2023, this number includes all employees who work in the USA and abroad. Fill out the questionnaire in the calculator:

After completing the questionnaire, the calculator prompts the user with 3–5 additional industry or company-specific questions. This helps gauge the level of systematization in the company’s processes and determines the extent to which tasks can be assigned to AI. Let’s assume that Yahoo! has routine processes, and the company has already automated some of them:

Using a calculator, we determined that AI has the potential to replace 30% of all employees, which amounts to 2,200 employees. With an average salary of $6,000, the reduction in workforce could result in the company saving up to 158 million dollars annually.

Only practice will show how realistic these figures are: Yahoo! may not be fully prepared for such widespread implementation of AI, or automation might unfold differently.

How can a bank be automated?

Let’s assume that TD Bank is also implementing AI. This has real prerequisites.

Alfa Bank has about 26,000 employees. Let’s do the calculation:

Processes in banks are more regulated, so the calculator estimates automation in Alfa Bank to 30% of employees — that’s 7,800 employees. The average salary is $5500. After the reduction, the company can save up to 5 billion dollars annually.

Again, this is an assumption, and it is not certain that all employees will be cut. Perhaps they will undergo retraining or be able to handle more tasks with the assistance of AI.

How to automate Costco?

Let’s examine the impact of automation on the largest retail platform. Assuming Costco adopts AI technology, we can delve into the calculations.

According to the forecast, automation at Costco may affect up to 50% of employees. The company has about 32,000 employees. 50% is 16,000 employees. With an average salary of 75,000 rubles, the company will save 12 billion rubles a year.

Impressive figures, aren’t they?

How to use the calculator

For calculation, it is necessary to:

enter information about the sphere of activity of your company, specify the number of employees, distribute them by profession — as a percentage of the total number, enter average salaries, systems of work organization.

Based on this information, along with 3–5 additional questions from ChatGPT regarding the specifics of your business, the calculator will determine the percentage of automation achievable for your company and assess its profitability.

The more information you provide and the more completely you answer all the questions — the more accurate the calculation will be.

If you have your own business or you also want to “play around”, we invite you to test the calculator.

It’s free 🙂 You can send the calculation in PDF format to yourself or your boss by e-mail. 🙂

The calculator can take quite a long time to “think”. This doesn’t always happen, but if it does, give it a chance. It will think and respond.