Generative AI could make four-day week a reality

Generative artificial intelligence products like ChatGPT could make the four-day work week a reality as they gradually become more productive and widespread, a new Deloitte study says.

Generative artificial intelligence products like ChatGPT could make the four-day work week a reality as they gradually become more productive and widespread, a new Deloitte study says. Picture: Lionel Bonaventure/AFP

Generative artificial intelligence products like ChatGPT could make the four-day work week a reality as they gradually become more productive and widespread, a new Deloitte study says.

A survey of 2550 Australians conducted in July found young people were far more likely than older counterparts to use generative AI tools at least a few times a month.

The study, conducted by pollster Ipsos, found 58 per cent of university students regularly used those products compared to 32 per cent of employees, almost half the rate.

Additionally, the report estimated industries representing 26 per cent of the Australian economy would be “rapidly and significantly” disrupted by generative AI in coming years. In particular, these industries were finance, professional services, ICT, media, education and wholesale trade.

The survey found that daily users of generative AI products claimed those products saved them on average more than five hours per week.

“The productivity improvements made possible by gen(erative) AI could dramatically increase the number of employers implementing the four-day week,” the report says.

“In some trials, businesses are using the 100:80:100 principle – employees deliver 100 per cent of the output, in 80 per cent of the time, with 100 per cent of the pay.

“This means employees are taking the fifth day they would previously work to knock over chores, do meal prep, go to appointments they can’t schedule on the weekend, give back to the community, or learn something new.”

The pipeline of younger people coming into the workforce and progressing to senior ranks will compound “the intensity of gen(erative) AI’s use in future,” the report says.

“We also found that younger employees were three times more likely to be users of gen(erative) AI compared to those in the middle of their career.

“Our survey found that the share of students and employees who expect to use gen(erative) AI daily will double.”

Deloitte chief executive Adam Powick said business leaders needed to adopt this kind of technology.

“Leaders like me need to accept that this technology is real and recognise that our role is to harness and guide the responsible application of generative AI, rather than turning a blind eye or resisting change by banning its use.”

Deloitte AI institute lead Kellie Nuttall said businesses had to adapt quickly to this change.

“Over half the graduate cohorts coming into every business next year are going to be using this technology – as will the next grad cohort and the next grad cohort,” she said.