GenAI: A Sharp Look at the White Collar Impact

The recent findings from a Harvard Business School Study, as reported by the Financial Times, shed light on the transformative impact of #generativeai? on the landscape of white-collar professions, with the example of BCG and freelancing. Here are the key takeaways:

Performance Surge Across the Board:

?? The bottom half of skilled participants witnessed a remarkable 43% increase in their performance.

?? Top-tier skilled participants experienced a commendable 17% performance boost.

The Quandary of Top Performers:

?? Ironically, top performers faced a performance dip. Their proficiency suffered as they tended to underutilize their innate ability to grasp subtleties and navigate complex edge cases.

Freelancers in the Crosshairs:

?? Freelancers in the editing business bore the brunt, witnessing a noticeable decline in their earnings.

So, What for us as #seniorleadership and #boardofdirectors ?

Get ready for an augmented workforce:

?? Generative AI will revolutionize how a significant portion of our workforce operates. 2 examples :? Imagine e.g. call center agents elevated by the efficiency brought forth by AI and the increase of quality for our customers. Imagine the quality and efficiency gains of our developers when each of them has an AI as teammate. We should get our organizations ready to size these benefits.

?? Train the older employees to work with AI. The new generation is using AI during its education and it is our responsibility that we do not create a digital AI gap when they join the company

Empower the Best:

?? Instead of fearing a loss of edge, let's embrace it. Top performers should be trained to leverage GenAI effectively. Show them where to push boundaries, where to let AI complement their skills, and how to navigate the delicate balance.

Rethinking Business Models:

?? Industries dependent on a linear relationship with time (like consultants, lawyers, artists, communication professionals, etc)? must brace for change.? The efficiency brought by AI will make customers discerning; they'll seek to benefit from these efficiencies, challenging traditional business models and way to add value.

The capability Gauss curve may drift to the right, but it's up to us to navigate it with finesse and purpose.

Adapt. Innovate. Thrive. ??

Link to FT article : https://www.ft.com/content/b2928076-5c52-43e9-8872-08fda2aa2fcf