The McKinsey Podcast Generative AI: How will it affect future jobs and workflows?
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Sep 21, 2023 Explore the implications of generative AI and its impact on future jobs. Learn about the changing labor market and the need for reskilling and support for workers. Discover the potential automation of tasks by generative AI and the importance of occupational transitions. Dive into the role of renewable energy and infrastructure renewal in job creation. Understand the factors affecting the labor market and the need for upskilling in the face of automation and generative AI.
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Labor Market Tightness Is Structural
- The US labor market is unusually tight with about two job openings per unemployed person.
- Many pandemic-accelerated preferences for flexibility and meaning will persist.
Four Occupations Account For Most Transitions
- Eighty percent of occupational transitions through 2030 will be in four categories: customer service, food service, production, and office support.
- Those areas will need large-scale reskilling and upskilling.
Gen AI Automates Tasks Unevenly
- Generative AI could automate almost 10% of tasks across the US economy, hitting lower-wage roles hardest.
- Higher-wage professions will be remade rather than fully eliminated.