CBRE Report: AI Job Displacement to Slow Asia-Pacific Office Demand Growth by 5 Points

On Thursday, a report from CBRE indicated that job displacement due to artificial intelligence is anticipated to lower the growth of office space demand by five percentage points in developed Asia-Pacific markets over the coming years. In regions such as Hong Kong, Singapore, Japan, South Korea, Taiwan, Australia, and New Zealand, 3.9 percent of office positions are at risk of being replaced by AI, in contrast to just 1.7 percent in emerging markets like mainland China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. Ada Choi, who leads Asia-Pacific research at CBRE, noted that while occupied office space is still projected to increase, it will do so at a slower rate of 13 percent by 2030, five percentage points lower than the consultancy's baseline scenario.