AI Advancements Could Lead to Four-Day Work Week, Says Mets Owner

In a recent appearance on CNBC's "Squawk Box," Steve Cohen, billionaire investor and owner of the New York Mets, discussed the future of work. He suggested that advancements in artificial intelligence (AI) could lead to a four-day workweek for many employees. This bold assertion hints at a potential paradigm shift in labor practices, with significant implications for businesses and workers.

"My belief is that a four-day work week is coming," Cohen told CNBC. "Between the advent of AI, generally we hear from people that people are not as productive on Fridays. So I just think it's an eventuality. When it happens, it's hard to know." 

He explained that his thesis about a shorter work week in the future helped inform his investment in a startup golf league called the Tomorrow Golf League (TGL).

Cohen suggested that a four-day workweek could lead to increased relaxation time for people, potentially resulting in higher participation in various other activities and increased interest in travel experiences. However, he acknowledged that this could also mean more crowded golf courses.

"But that should fit into a theme of more leisure for people, which means golf rounds would go up, and interest will go up—I guess courses will be more crowded," he explained.

Besides that, he emphasized that while portfolio managers and traders at his investment firm would still be expected to work on Fridays if the markets were open, the majority of people may eventually have the opportunity to enjoy a three-day weekend.

The AI sector is witnessing rapid expansion, fueled by growing demand for AI-driven solutions across diverse industries. According to a report from Grand View Research, the global AI market is projected to soar to $733.7 billion by 2027, registering a remarkable compound annual growth rate (CAGR) of 42.2% from 2020 to 2027.

This surge in demand is propelled by the widespread adoption of AI technologies in sectors like healthcare, finance, automotive, and retail, among others.

Furthermore, recent advancements in AI have the potential to revolutionize the traditional workweek. A study conducted in 2023 by Autonomy, a think tank group, revealed that AI innovations could lead to a reduction in the work week to 32 hours for approximately 28% of the workforce in the United States and the United Kingdom by 2033. Notably, the study indicated that this reduction in hours would not result in a decrease in pay.

The research also suggests that as AI technology evolves, mundane tasks currently performed by human workers could be automated, diminishing the necessity for employees to adhere to the conventional 40-hour workweek.

Specifically, tasks could be delegated to AI-powered systems such as ChatGPT and "Large Language Models." The study estimates that incorporating these Large Language Models into business operations could potentially trim the average employee's hours by 10%.

Senator Bernie Sanders, a vocal proponent of a shorter work week, has previously proposed legislation advocating for a 32-hour work week without a reduction in pay. However, his bill has encountered challenges in gaining significant support or momentum.