Global business leaders gathering at the World Economic Forum have warned that companies focusing solely on artificial intelligence for efficiency are missing a multitrillion-dollar growth opportunity while risking the alienation of their workforce.
Executives from Accenture and ADP used the Davos platform to argue that the “efficiency trap” — where AI is used primarily to cut costs — is preventing organisations from realising the technology’s full value.
Muqsit Ashraf, Group Chief Executive of Accenture Strategy, said that while leaders are doubling down on investment, fewer than one in five companies are currently realising AI’s full potential.
“The reason is simple: most chase efficiency when AI’s real value lies in growing new products, channels and ways to create and capture value,” Ashraf said.
According to Accenture research, global companies have lost nearly $5 trillion in revenue to disruption over the last decade as value pools shift faster than enterprises can rewire their operations.
The rise of ‘Agentic AI’
Both leaders identified “agentic AI” — systems that can interpret context and act autonomously — as a critical driver for this transformation.
Ashraf described these agents as a “new factor of production” rather than just tools, citing a healthcare insurer where AI agents reduced document processing time by 90 per cent, allowing human reviewers to intervene in less than 3 per cent of cases.
Prasanna Gopalkrishnan, Chief Product & AI Officer at ADP, reinforced this view but cautioned that deployment must focus on “amplification” rather than replacement.
“The future of work depends less on AI replacing people and more on people using AI to amplify the potential of humans and their contributions,” Gopalkrishnan said.
She noted that agentic systems at ADP can now detect payroll inconsistencies weeks in advance, but argued that human oversight remains essential in high-stakes areas like HR to maintain trust and regulatory compliance.
The talent gap
The shift to these “AI-native” business models is being constrained by a significant skills gap.
Ashraf revealed that while technology investment is high, only 43 per cent of C-suite leaders currently plan to upskill employees for AI-enhanced work.
Less than 21 per cent of employees believe they have a voice in how AI is introduced in their workplace.
“Technology investments are only as strong as the talent activating them,” Ashraf warned.
To bridge this divide, Gopalkrishnan advocated a leadership strategy grounded in transparency and empathy, urging executives to set clear expectations for what AI tools can and cannot do.
“When leaders design and deploy AI with intention, they can amplify the parts of work that help people thrive, creating environments where individuals can engage with meaningful work and ultimately achieve greater success,” she said.
