Generative artificial intelligence and the workforce (SHRM and The Burning Glass Institute Feb 2024)
This report is a collaboration between The Burning Glass Institute and SHRM, assessing Generative AI's evolving role within the workforce, particularly its effects on high-skilled professions in banking and tech. It aims to guide CHROs and business leaders through the upcoming shifts, offering insights to strategically navigate and harness GenAI's capabilities.
Don’t Let Gen AI Limit Your Team’s Creativity (HBR Feb 2024)
This article discusses the double-edged sword of AI assistance in problem-solving. It highlights an experiment by Kian Gohar (Geolab) and Jeremy Utley (Stanford University) revealing gains and pitfalls in AI-facilitated ideation. The authors advise not to fault the AI but to refine the creative process with it, suggesting a structured dialogue can significantly enhance idea generation and creativity.
1 in 4 don’t trust their employer will implement AI responsibly (UNLEASH Jan 2024)
This article discusses new reports from IBM and Workday. It highlights the significant growth in AI adoption within enterprises, driven by early adopters, with 42% of large companies having implemented AI, and a further 40% exploring its potential. The acceleration of AI investments by 59% of these companies underscores the technology's expanding role in business. The article also discusses a notable trust gap in AI deployment, with 25% of employees sceptical about their employers' responsible use of AI. The findings underscore a pressing need for transparency and ethical standards in AI integration.
Rethinking AI's impact: MIT CSAIL study reveals economic limits to job automation (MIT SCAIL Jan 2024)
MIT's CSAIL research brings a fresh perspective to AI's economic feasibility, revealing only 23% of tasks could be cost-effectively automated. This study uniquely combines technical analysis with economic considerations, highlighting the current financial impracticality of widespread AI job replacement due to high upfront costs. It suggests significant cost reductions are unlikely to change this scenario soon.
Microsoft New Future of Work Report 2023 (Microsoft Dec 2023)
This report discusses the significant impact of AI and LLMs on the future of work, and provides a summary of recent research from Microsoft and around the world. It underscores the pivotal role of research in shaping work positively during this transformative period, urging scientists to actively contribute to defining the future of work.
The AI-Fueled Future of Work Needs Humans More Than Ever (Wired Jan 2024)
This article discusses how AI, much like the internet revolution of the 1990s, is redefining work, emphasising a skills-first approach for both employees and employers to navigate the changes. It advocates for focusing on task-based skill development and the importance of people skills alongside AI literacy, highlighting the rapid evolution of job requirements and the growing significance of skills-based hiring and talent development.
Ten unsung digital and AI ideas shaping business (McKinsey & Co Jan 2024)
This article outlines ten innovative digital and AI concepts reshaping business. It covers the emergence of digital builders, the emphasis on scaling innovations, the 'More law' for increasing digital value, and the ongoing digital transformation necessity. The value of data as a key resource, the changing workforce dynamics with AI, and businesses functioning like neural networks. Additionally, it highlights IT as a service, the importance of focusing on value creation, and the need for continuous adaptation in business strategies.
AI in 2024: Five trends workers need to know (BBC Jan 2024)
This article outlines key AI trends for 2024, focusing on generative AI's growing role in the workplace. Workers are becoming more adept at using AI, which will foster inclusivity, especially for those with disabilities, through tools like speech-to-text and multilingual captioning. Additionally, AI will play a significant role in making hiring and layoff processes more equitable, as efforts are made to reduce algorithmic biases in HR tools. These developments indicate a shift towards a more inclusive and fair work environment facilitated by AI advancements.
Using AI in ways that enhance worker dignity and inclusion (Charter Oct 2023)
This research from Charter aims to understand AI's impact in modern workplaces, drawing lessons from past technological shifts. AI could potentially harm diversity, equity, and inclusion, requiring proactive measures to avoid this. Charter’s research, supported by the Innovation Resource Center for Human Resources and in collaboration with Glimpse, involved surveying 1,173 contributors and managers in manufacturing, service, and knowledge sectors alongside insights from experts across various fields. The reports provides findings and strategies for AI adoption that prioritise worker welfare, and a recommended reading list.
The Short-Term Effects of Generative Artificial Intelligence on Employment: Evidence from an Online Labor Market (Hui et al., July 2023)
AI tools such as ChatGPT may be adversely affecting certain professions, including copywriting and graphic design. A study examining AI's impact on the online labour market revealed that ChatGPT's launch significantly reduced the volume of work and income for copywriters and graphic designers on freelancing platforms. This effect was evident across all skill levels, indicating that ChatGPT's introduction influenced professionals regardless of their expertise.
GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models (Eloundou et al., Aug 2023)
Being highly skilled or earning a higher income does not necessarily protect you from AI's impact. Research by OpenAI and the University of Pennsylvania highlights that workers earning above $100,000 may be more at risk from AI advancements than those earning less. The study discusses AI models' effects on the labour market, noting that the influence extends across all wage levels. It particularly mentions that high-income roles could face increased exposure to the capabilities of Large Language Models (LLMs) and related software applications.
Reshaping the tree: rebuilding organizations for AI (Ethan Mollick Nov 2023)
The article examines how technological advancements, particularly AI, are reshaping organisational structures. It draws parallels with historical shifts, like Henry Ford's assembly lines, to demonstrate technology's impact on work processes. AI's unique role is highlighted in its ability to perform tasks like reading and writing emails, mirroring human-scale functions. The piece delves into AI's informal integration into various tasks at organisations, changing work organisation and execution. It shares insights from Wharton Interactive's use of AI in functions like customer support and marketing. The conclusion offers principles for AI integration in organisations, emphasising adaptability and the importance of keeping pace with AI's rapid development.
From Automation to Adaptation: Jobs at Risk of Exposure to AI in the UK (Jeisson Cardenas-Rubio and Gianni Anelli-Lopez, Nov 2023)
The article discusses the impact of AI tools like Chat-GPT on the UK job market. Despite fears of AI-induced job displacement, there's no evidence yet of significant job losses due to AI. The paper identifies 15 occupations potentially affected by AI technologies. Analysis using online job advertisements shows no substantial impact on employment in these sectors so far. However, the pace of AI development suggests potential future changes in job demands. The article emphasises the importance of ongoing monitoring of AI's impact on labour and skill demand.
Microsoft’s Chief People Officer: here’s how workers can get the most out of AI (Fast Company Nov 2023)
Kathleen Hogan, Microsoft's Chief People Officer, shares insights on how AI will revolutionise work. She emphasises that AI's impact will surpass that of the PC, introducing significant shifts in how we work. Hogan identifies challenges like job loss and algorithmic bias, but remains optimistic about AI's potential. She advises leaders to foster an agility-based culture, reimagine work processes, and invest in human skills alongside technical skills. This approach involves deconstructing jobs into tasks, determining what AI can automate, and enhancing employees' analytical, emotional, and creative skills to effectively utilise AI as a collaborative tool. Hogan underscores the leadership imperative in unlocking AI's full potential, advocating for hands-on AI skill training and critical evaluation of AI outputs.
Gen AI and the future of work (McKinsey & Co Nov 2023)
This 5 minute briefing discusses the significant impact of generative AI on various industries, emphasising its potential to revolutionise work processes. Since the launch of ChatGPT, Gen AI's development and public use have accelerated, indicating its importance beyond a passing trend. It could contribute up to $4.4 trillion annually to the global economy. Gen AI is expected to enhance productivity across sectors, affecting workers differently but changing work methods for nearly everyone. Contrary to previous automation trends that impacted less educated workers more, Gen AI is set to affect more-educated workers significantly. The document includes data showing the potential for technical automation with and without Gen AI in the U.S., categorised by education levels. Despite the potential for task automation, most business functions do not anticipate Gen AI leading to a decrease in workforce size, suggesting a shift towards a more AI-integrated workforce rather than job eliminations.
Will generative AI transform business? (The FT Nov 2023)
This article discusses the rapidly evolving field of generative AI and its potential impact on various business sectors. It highlights the increasing use and sophistication of generative AI tools like ChatGPT and Dall-E 2, and their growing influence in the workplace and creative industries. The article underscores the potential of generative AI in enhancing productivity, creativity, and efficiency across diverse fields such as marketing, customer service, product design, and legal and financial services. It also addresses challenges, including the need for human oversight, ethical considerations, and managing the risks of misinformation and data security. The article suggests that businesses need to develop strategies to effectively integrate generative AI into their operations while being mindful of its limitations and societal implications.
Leveraging generative AI in Europe: The opportunities and challenges (McKinsey & Co Oct 2023)
Explores the transformative impact of generative AI across various sectors in Europe. It highlights Europe's unique position due to its diverse cultures, languages, and regulatory environment, which can accelerate AI adoption and foster localised applications. The report estimates that generative AI could add $2.6 trillion to $4.4 trillion annually in global productivity gains, significantly impacting industries like banking, retail, and healthcare. It emphasises the potential of AI in reshaping social contracts, enhancing customer experiences, and driving personalization in consumer-focused industries. Additionally, the report notes the importance of European regulations in shaping a robust AI ecosystem and the need for change management in implementing AI solutions. The article underscores the potential for AI to support social good, particularly in health and education, and suggests Europe's investment in AI as a key factor in its global competitiveness in this field.
Here’s what we know about generative AI’s impact on white-collar work (The FT Oct 2023)
This article examines the impact of generative AI on white-collar work. It highlights that high-wage jobs are at increased risk of AI automation, as demonstrated by the decline in work and earnings for freelancers in fields like copywriting and graphic design following the introduction of AI tools like ChatGPT. A study involving Boston Consulting Group employees showed that those using GPT-4 were more productive and produced higher quality work, especially those less skilled. The article concludes that AI tools should be seen as an extension of human capabilities, suggesting a careful approach to leveraging AI in the workplace while acknowledging its potential as both a threat and an ally in white-collar sectors.
LinkedIn exec reveals exactly how AI is changing hiring and recruiting (Fast Company Oct 2023)
This article discusses the transformative role of AI in the job market and hiring processes. It highlights the acceleration in AI adoption over recent months, with over 8,800 AI tools capable of performing tasks across various jobs. The article emphasises the need to cultivate uniquely human skills like emotional intelligence and social skills, which AI cannot replace. It notes a significant increase in AI-related skills in job listings and professional profiles. AI's rapid growth is reshaping job roles, with a focus on soft skills and new digital competencies. The article concludes that AI will create a more equitable work environment by changing talent acquisition practices, allowing a broader range of candidates to showcase their transferable skills and competencies beyond traditional degrees.
AI Impact: Over 40% of Labor Force Could Be Affected in Next Three Years, Says Morgan Stanley (BNN Oct 2023)
The article reports that Morgan Stanley predicts that artificial intelligence (AI) will affect 44% of the labour force and create a $4.1 trillion economic impact in the next three years. The article also discusses how generative AI will change business processes, software production, and cloud services
Future of work: career planners should contemplate computers and care (The FT Sept 2023)
This article discusses the impact of new technology on job creation. It emphasises that new technology tends to create jobs, rather than eliminate them. The article suggests that Artificial Intelligence (AI) is not the only technology expected to create employment over the next decade. Other areas such as big data analytics, environmental technology, and biotech breakthroughs are also forecasted to see net gains.
Generative AI: How will it affect future jobs and workflows (McKinsey & Co Sept 2023)
This Mckinsey Podcast discusses the implications of generative AI on future jobs and workflows. The speakers emphasise the need for companies to adapt to AI and its potential changes. The episode also features Joanne Lipman, author of Next! The Power of Reinvention in Life and Work who shares a four-step reinvention road map: search, struggle, stop, solution.
AI Outlook: How AI Is Transforming Business (General Assembly Aug 2023)
This infographic explores how AI is transforming business across sectors like healthcare, finance, education, and tech. It outlines top AI tools including machine learning, natural language processing, and generative AI. It notes AI adoption will take time and require upskilling talent. Overall, it aims to provide an overview of AI's current business applications and advice for preparing workforces for an AI-powered future through skilling initiatives.
Is ChatGPT a Better Entrepreneur Than Most? (Knowledge at Wharton Sept 2023)
Wharton professors Terwiesch and Ulrich conducted an experiment comparing business ideas from MBA students and ChatGPT. They asked ChatGPT for 200 product/service ideas for college students under $50. In an online survey measuring purchase intent, respondents were more likely to buy ChatGPT's ideas over the students'. The professors argue this shows AI can generate valuable new ideas, but organisations must effectively evaluate and select the best ones. They propose humans and AI adopt a pilot/co-pilot relationship, with humans leading.
Navigating the Jagged Technological Frontier: Field Experimental Evidence of the Effects of AI on Knowledge Worker Productivity and Quality (Harvard Business School Technology & Operations Mgt Paper September 2023)
Experiments with 750+ consultants tested GPT-4's impact on complex work. In creative tasks, AI boosted productivity 12%, speed 25%, & quality 40%, especially for below average workers. In analysis, AI led to 19% more incorrect solutions by overly relying on flawed AI. But AI groups still produced higher quality overall recommendations. Rather than adopt AI wholesale, organisations should evaluate it at the individual task level based on current competencies.
What’s the future of generative AI? An early view in 15 charts (McKinsey & Co Aug 2023)
Generative AI has emerged in the past year as a transformative technology with the potential to boost productivity and economic growth. This McKinsey article summarises key findings from the firm's research on generative AI's rapid evolution and the implications across industries. In 15 charts, it provides an early look at timelines, use cases, benefits, risks, and estimated global impact across sectors.
6 generative AI business myths that will make you rethink everything (PWC 2023)
This article debunks common myths about generative AI's business impacts. It makes the case that generative AI will transform all enterprises, is mature and secure, benefits every industry, is effective with limited data, enhances human abilities, and is accessible to all. The article urges re-evaluating strategies to fully leverage generative AI.
How Generative AI Changes Everything (Harvard Business Review May 2023)
This HBR special podcast series explores how generative AI changes everything. It covers topics such as workforce productivity, creativity and innovation, internal culture, and strategy. It features interviews with business leaders and experts who share their insights and challenges on using generative AI in their organisations.
Future of Work Report: AI at Work (LinkedIn Aug 2023)
This report highlights that AI adoption is surging, key takeaways include:
- 21x increase in job postings mentioning AI since November 2022
- LinkedIn members with AI skills grew 9x since 2016 globally.
- 92% agree human skills remain critical
Overall, the report highlights AI's expanding role and need to develop complementary human strengths. AI job postings and skilled members have exploded, yet executives recognise the enduring importance of people skills in an AI-driven world
Employment Outlook 2023 Artificial Intelligence and the Labour Market (OECD Jul 2023)
This report examines recent labour market trends in OECD countries, focusing on labour demand, shortages, wages, and the impact of artificial intelligence on workers. Key findings include stabilising unemployment post-COVID-19, declining real wages especially for low-paid workers, and mixed views from workers on AI's risks and benefits. The report advocates policies to maximise AI's upsides like productivity while minimising downsides like job displacement.
AI at Work: What People Are Saying (BCG Jun 2023)
This article summarises a global survey on how people perceive and use AI at work across roles and sectors. It finds general optimism on AI's benefits but also concerns about risks. People want employer support to use AI effectively and responsibly. The survey also revealed that there are significant gaps in AI readiness and capabilities among different regions and sectors. For example, China and India have the highest AI readiness scores, while Japan and France have the lowest. Similarly, the technology, media, and telecommunications (TMT) sector has the highest AI readiness score, while the public sector has the lowest.
The survey indicated that there is a disconnect between leaders and frontline employees on various aspects of AI. For instance, leaders are more likely to use AI than frontline employees (77% vs. 54%) and to report positive outcomes from AI than frontline employees (80% vs. 66%). Moreover, leaders are more confident in their organisation’s responsible AI practices than frontline employees (74% vs. 56%) and more satisfied with their organisation’s AI culture than frontline employees (72% vs. 58%).
The economic potential of generative AI: The next productivity frontier (Mckinsey & Co Jun 2023)
This report explores the substantial economic potential of generative AI, which could boost global GDP by up to 11% by 2030. It analyses 63 use cases and 19 sectors, showing generative AI could automate or augment many work activities. While creating some new roles, it could displace others, requiring ethical frameworks.
Generative AI: What it really means for business (PwC Pulse Podcast Apr 23)
In this podcast episode Joe Atkinson, PwC’s Chief Products and Technology Officer, is joined by Ramayya Krishnan, Dean of Heinz College of Information Systems and Public Policy at Carnegie Mellon University to discuss how generative AI creates opportunities for business innovation and enhanced productivity but also poses challenges around quality, ethics, and managing societal impacts. It advocates a responsible approach aligning AI with business values and investing properly in talent, tools, and governance.