As anxiety mounts over artificial intelligence (AI) threatening jobs and wages, a groundbreaking new study by professional services giant PwC turns the narrative on its head. Contrary to fears that AI will lead to widespread layoffs and wage suppression, the research shows that AI is making workers more valuable — boosting both employment and pay across industries.

The Speed of AI Innovation: A Double-Edged Sword?

Joe Atkinson, PwC’s Global Chief AI Officer, emphasizes the unprecedented pace of AI advancements. Speaking to CNBC Make It, Atkinson noted, “The tech innovation is moving really, really fast — faster than anything we’ve ever seen.” Yet, instead of causing disruption through job losses, AI is creating new roles and opportunities. “What the report suggests, actually, is AI is creating jobs,” he said.

Jobs and Wages Climb in AI-Exposed Occupations

The 2025 AI Jobs Barometer report, analyzing over 800 million job ads worldwide, reveals a surprising trend: jobs and wages are growing in nearly every role where AI can be applied. This includes occupations considered highly automatable, such as customer service and software development.

Carol Stubbings, PwC UK’s Global Chief Commercial Officer, highlights a crucial challenge — not the loss of jobs but the evolving skillsets required. “Workers need to be prepared to take the new jobs that AI is creating,” she said. The report warns against complacency, urging workforce adaptation as the key to thriving alongside AI.

Busting the Biggest AI Myths

PwC’s extensive research debunks six common misconceptions about AI’s impact on the labor market. Far from stagnating productivity, industries most exposed to AI have seen productivity growth nearly quadruple since 2022. Contrary to fears of wage suppression, workers with AI skills earn on average 56% more than their peers without those skills—a significant rise from 25% last year.

Even the myth that AI reduces overall job numbers doesn’t hold up. Occupations less exposed to AI grew by 65% from 2019 to 2024, while AI-exposed jobs still posted a robust 38% growth. Furthermore, the report finds AI does not worsen inequality; wages and job opportunities are rising in AI-augmented and automatable roles, with employer demand for formal degrees decreasing in these sectors—potentially widening access.

AI as a Job Enricher, Not a Job Killer

Another surprise: AI is enriching jobs traditionally seen as vulnerable to automation. By automating mundane tasks, AI frees workers to develop more complex, creative skills. Data entry clerks, for example, are evolving into data analysts, increasing their value in the workplace.

The report also shows that even jobs highly susceptible to automation are becoming more complex and creative, ultimately enhancing human worth rather than devaluing it.

Could Gentler Job Growth Be a Hidden Blessing?

With many countries facing declining working-age populations, the study suggests that moderated job growth in AI-affected fields might be beneficial. AI-driven productivity gains create a multiplier effect, filling workforce gaps and enabling companies to grow more efficiently.

Atkinson concludes, “It’s a prediction supported by the productivity data we’re seeing… It could absolutely and will be a good thing.”

AI: From Efficiency Tool to Growth Strategy

The report urges companies to rethink AI as more than a cost-cutting tool. Instead, AI should be embraced as a powerful growth engine. Businesses are encouraged to help employees adapt, innovate, and collaborate to create new markets and revenue streams.

“It is critical to avoid the trap of low ambition. Instead of limiting our focus to automating yesterday’s jobs, let’s create the new jobs and industries of the future,” the report advocates.

Historically, technology has been a wellspring of new jobs — with two-thirds of today’s U.S. jobs nonexistent in 1940. PwC’s research suggests AI could ignite a similar wave of innovation, reshaping the workforce for decades to come.