Disturbing new findings have highlighted rising concerns in the finance sector for employee privacy, as an increase in futuristic human implantation technology is set for the workplace sooner than many anticipated.
Having canvassed more than 5,000 senior decision makers, the findings reveal that nearly half of financial leaders predict employee microchips and other human technology implants to be in workplace use by 2030, along with 32 in the sector overall.
The revelation follows controversy in the US, in which a company microchipped 50 of its employees, leading at least 11 US states to ban employee microchipping.
Arundale: autonomy is important
This move toward innovative technologies is a growing trend, and one that the financial sector seems keen to set into motion. In addition to surveillance measures, the research discovered that:
- Businesses are putting money behind new technology, as 40 per cent of respondents said their organisation’s leadership is prioritising technology investment at present.
- AI technology is gaining more responsibility and will be used to make critical business decisions by 2030, according to over half of financial CEOs and MDs.
- A third said they believe AI will replace at least 50 per cent of manual work.
But the sector financiers is not looking forward to this change, as only 19 per cent feel robots and AI-based technologies will positively transform the workplace. With talk of microchipping and additional surveillance only set to cause more concern, Alex Arundale, Chief People Officer at the report’s authors, Advanced, said: “Employers need to consider the proportionality and necessity of new technologies, weighing convenience against the impact new additions might have on employee morale.
“Having some autonomy over how they work, when they take breaks, and working at times when they feel most productive is an important part of employee wellbeing. Feeling under constant surveillance can cause anxiety and increase the risk of burnout, making it counterproductive for the employer.”
Although it could be a while before we see employee microchipping become the norm, since the pandemic’s widespread introduction to remote and hybrid working, more and more AI and technology-driven surveillance has seeped into the workplace, from wellness trackers to remote employee monitoring software.
The TUC earlier revealed the financial service sector to have the greatest proportion of workers reporting workplace surveillance, at a shocking 74 per cent.
Whilst wellness trackers may sound harmless, the company points out that the move once again brings privacy concerns into question, as businesses potentially gain access to personal employee medical data.
Whilst wellness trackers may sound harmless, the company points out that the move once again brings privacy concerns into question, as businesses potentially gain access to personal employee medical data.
Advanced’s future technology predictions are detailed here.
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