Zoom CEO Eric Yuan Predicts AI-Enabled 4-Day Work Weeks Within 20 Years

Zoom CEO Eric Yuan Says A.I. Will Make 4-Day Work Weeks a Norm

The video conferencing company is repositioning itself as an "A.I.-first" platform, said CEO Eric Yuan. While some tech companies try to get their employees back to the office five days a week, others believe that, with the help of A.I., employees may soon not have to work that much. "Very soon, maybe in the next 20 years or maybe sooner, we won't need to work for five days," Eric Yuan, CEO and co-founder of the video conferencing company Zoom, said today (Sept. 25) while speaking at the Concordia Summit in New York. As the new technology becomes widely adopted, four-day work weeks will become the norm, with workers logging 32 hours instead of the traditional 40, he said. "That will become reality." Sign Up For Our Daily Newsletter Sign Up Thank you for signing up! By clicking submit, you agree to our <a href="http://observermedia.com/terms">terms of service</a> and acknowledge we may use your information to send you emails, product samples, and promotions on this website and other properties. You can opt out anytime. See all of our newsletters This isn't the first time Yuan has touted the productivity potential of A.I. Earlier this year, he told The Verge that Zoom will eventually use the technology to create a "digital twin" that can "go to Zoom meetings on your behalf and even make decisions for you while you spend your time on more important things, like your family." These digital avatars, which will mimic users so well that "you can't know if it's a real person or just a 3D person," will take calls, answer emails and do other grunt work, allowing employees to cut their work weeks by a day or two, he said. Other business leaders have made similar predictions. Billionaires Ray Dalio and Richard Branson have both suggested that A.I. will make shorter work weeks a reality, while Steve Cohen, the head of Point72 Asset Management, in April told CNBC that four-day work weeks are "an eventuality." Zoom is building "an A.I.-first" platform Yuan, who currently has an estimated net worth of $4.4 billion, worked at Cisco and WebEx before founding Zoom in 2011. The San Jose, Calif.-based company skyrocketed in popularity during the Covid-19 pandemic, with its daily users rising from 10 million at the end of 2019 to nearly 350 million by March 2020, according to Yuan. The company is still profitable, having reported a net income of $219 million on $1.1 billion of revenue during the latest quarter. But growth has slowed since its Covid-19 heyday, with the company's share price falling by 86 percent from its peak in late 2020. As Zoom repositions itself amid a new environment, A.I. is at the forefront. "We are way more than just video conferencing tools," said Yuan at the Concordia Summit. "We are building an A.I.-first work and learning platform." The company was investing in A.I. even before OpenAI's ChatGPT took the tech world by storm in late 2022, Yuan added. The company has introduced a slew of A.I.-powered features in recent months through its A.I. Companion tool. The generative A.I. assistant, included at no cost for customers of paid Zoom accounts, can summarize meetings, compose chats, generate project ideas and complete text in documents. "Almost everywhere, we think about how to leverage A.I.," said Yuan. The Zoom CEO's optimism doesn't mean the company's adoption of A.I. has occurred without a hitch. Given the technology's potential impact on society, Yuan said regulation and caution are required. He recalled the company's rollout of its virtual background generation feature, which was introduced in August but was initially scheduled for release a few months prior. After running an internal test that unveiled some biases in the feature, Zoom "took a step back to spend more time in data training to make sure it's very inclusive," he said. "Internally, we realized we have to take a very responsible approach -- not only for privacy and security, but A.I. as well."

Zoom CEO Eric Yuan Predicts 4-Day Work Weeks Enabled By AI Within 20 Years, Echoing Views Of Bill Gates And Steve Cohen - Zoom Video Comms (NASDAQ:ZM)

Zoom Video Communications Inc. CEO Eric Yuan announced at the Concordia Summit in New York on Wednesday that AI will soon enable four-day work weeks. Yuan believes this shift could occur within the next 20 years or even sooner. What Happened: Yuan stated that as AI technology becomes more prevalent, employees will transition to working 32 hours a week instead of the traditional 40. He emphasized that this change is inevitable, saying, "That will become reality," reported Observer Earlier this year, Yuan told The Verge that Zoom aims to use AI to create "digital twins" capable of attending meetings and making decisions on behalf of users. These avatars would handle routine tasks, allowing employees to reduce their work weeks. Yuan, who founded Zoom in 2011, highlighted the company's ongoing investment in AI, noting that they were ahead of the curve even before the rise of OpenAI's ChatGPT. Zoom has recently introduced several AI-powered features through its AI Companion tool, which assists with tasks like summarizing meetings and generating project ideas. Despite the optimism, Yuan acknowledged the need for caution and regulation in AI deployment, citing an internal test that revealed biases in a virtual background feature, leading to a delay in its release, according to the report. See Also: Tech YouTuber MKBHD Responds After Facing Massive Backlash Over His New $12 A Month Wallpaper App Why It Matters: The prediction by Zoom CEO Yuan aligns with a growing consensus among industry leaders about the transformative potential of AI in the workplace. In April, Steve Cohen of Point72 Asset Management remarked that the four-day workweek is an "eventuality" due to increased productivity driven by AI. Additionally, Sen. Bernie Sanders (I-Vt.) has been advocating for a 32-hour work week without pay cuts, proposing legislation to adjust the overtime threshold accordingly. This bill aims to ensure workers benefit from the productivity gains brought by AI and automation. Even Bill Gates has weighed in on the topic, suggesting that advancements in technology could lead to a three-day workweek in the future. Gates envisions a world where machines handle most tasks, reducing the need for human labor. However, the rapid adoption of AI also raises concerns about job security and inequality. Geoffrey Hinton, known as the "Godfather of AI," has warned about potential job losses and has advocated for universal basic income to address these challenges. Read Next: Steve Jobs And Steve Wozniak Once Pranked The Pope By Pretending To Be Henry Kissinger: 'I'm Just Calling To Make A Confession,' Said One Apple Co-Founder Photo courtesy: Shutterstock This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote Market News and Data brought to you by Benzinga APIs