Deloitte: Generative AI and the Future of Work
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Welcome back to another TalentTech Weekly! This week we examine 德勤 ’s latest report on Generative AI and the future of work. As AI continues to evolve at a rapid pace, professionals must stay up to date on these developments and their potential implications.
In this edition, we'll explore the transformative power of generative AI, its ability to redefine work processes, and its ripple effect on the job market. From understanding the technology itself to examining its influence on human skills and job roles, we'll unpack the key insights from Deloitte's comprehensive report.
Download the full report here: LINK?
Understanding generative tech and its human touch
Generative AI is a rapidly evolving branch of artificial intelligence designed to generate new content like text, code, voice-to-images, videos, 3D modeling, chatbots, and more. This technology operates through a deep learning process , in which the AI is trained on vast amounts of data and produces new content by combining patterns.
The impact of generative AI on work is profound. As Deloitte's report states, "AI took a major leap with Generative AI and its ability to disrupt the way we work because of its ability to create content that profoundly supports human expertise and skills—writing memos and reports, designing website graphics, creating personalized marketing strategies, and curating employee learning programs, for example."
One of the most striking aspects of generative AI is its accessibility. The report notes that this is the first time a technological revolution of this magnitude has been so widely accessible. Anyone with an internet connection can become involved. This democratization of AI technology has widespread implications for how we work and create.
However, it's crucial to remember that generative AI isn't designed to replace humans, but rather to change how we work. As Jeff Wellstead said in our recent discussion on AI , humans have the power of intuition. The report stresses the importance of a human-centered approach to implementing generative AI through nurturing a workforce equipped to adapt, learn, and evolve with Generative AI.
The report notes the difficulties that come with this technology. For global business leaders, the challenge is two-fold: understanding the potential and risks that Generative AI brings and preparing for the inevitable organizational change ahead. Leaders will have to address employee concerns about accuracy, potential job displacement, and legal questions related to intellectual property.
How generative AI is redefining work
One of the key ways generative AI is disrupting work is by automating and augmenting tasks that were previously time-consuming or repetitive. 德勤 ’s report states if employees can use generative AI to complete tasks faster, easier, or better than they could before, then we can start to assign tasks differently. This shift allows workers to focus on higher-value activities that require uniquely human skills.
Generative AI’s influence will continue to grow as both individuals and enterprises discover innovative uses for it in everyday work and life. It’s projected that 40% of enterprise applications will have embedded conversational AI soon, a huge leap from less than 5% in 2020. Generative AI's footprint is predicted to expand by 2025, accounting for nearly 10% of the total global data produced. Moreover, by 2027, nearly 15% of new applications are expected to be autonomously generated by AI, saving humans hours of computer coding time, a reality that seems futuristic today.
The report suggests that augmentation of skills will lead to almost all workers needing some type of continuous learning support on how to effectively use AI and Generative AI in their jobs. The report emphasizes the importance of reskilling and upskilling to prepare for the AI-driven future of work. Executives should begin to consider future-proofing their workforce because it’s inclined to shift quickly, and workers will need new skills. This includes developing both technical skills and enhancing uniquely human capabilities such as emotional intelligence, critical thinking, and complex problem-solving.
An increasing number of companies are placing a fresh focus on skills while seeking to upgrade their workforce in the age of Generative AI. Organizations that prioritize skills can achieve tangible results. According to Deloitte's Skill-based Organization Survey, organizations that integrate a skills-based approach are 63% more likely to achieve results compared to those that have not implemented skills-based practices.
Job market 2.0: generative AI's ripple effect
One of the key findings in the report is that generative AI is more likely to augment human capabilities rather than completely replace jobs. The report states, "While the impact to workers is likely a story of augmentation versus replacement, for many, AI still represents a potential existential threat to their professions." This highlights the importance of clear communication and support for workers as organizations integrate AI technologies.
Deloitte cites a 高盛 study which predicts that as many as 300 million jobs could be impacted in some capacity with generative AI replacing 7% of current US employment, complementing 63%, and leaving 20% unchanged. In addition, the report said that it is reasonable to expect a productivity boom with widespread adoption increasing global GDP worldwide by 7% over 10 years.??
The report also acknowledges that certain professions may face more significant challenges. For example, creatives and the entertainment industry question where Generative AI infringes on their intellectual property. Will it compromise creative quality? 43% agree it will. These concerns highlight the need for careful consideration of the ethical and legal implications of AI adoption.
Deloitte highlights the potential for generative AI to create entirely new job roles and skills. These skills include AI prompting, validating AI outputs, and more technical skills related to large language models and image processing.
By understanding these potential changes, organizations and individuals can better prepare for the challenges and opportunities that lie ahead in this new era of AI-augmented work. Download Deloitte’s full report here: LINK
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Written by: Alexandra Paasch
Transforming HR Technology with AI Expertise at Big Bear Partners
4 个月This is a terrific synopsis offered here and we'll worth a deeper dive as the fly wheel on AI is spinning at incredible speeds already and the future implications in the next few years are crucial to get ahead of.