Generative AI and the Future of Work in America | McKinsey Global Institute

Workforce Trends

This new 76-page report provides a comprehensive review of the impact of generative AI on work, the workplace, and workforce. A few highlights include: 1) By 2030, Generative AI has the potential to automate up to 30% of the current work hours in the US economy. 2) These changes are expected to enhance work processes for STEM, creative, business, and legal professionals rather than leading to widespread job eliminations. 3) Job losses will primarily affect office support, customer service, and food service job categories. 4) Approximately 12 million occupational transitions may occur in the US by 2030 because of generative AI, with lower-wage workers facing up to 14 times more transitions than their higher-wage counterparts. Women are 1.5 times more likely to seek new occupations. To tap into this emerging talent pool, organizations will need to adopt a more inclusive candidate evaluation process—removing unnecessary credential requirements, embracing candidates with unconventional career paths, and evaluating individuals based on their capacity to learn, intrinsic capabilities, and transferable skills. The report highlights that more than half of all role transitions involve a significant acquisition of new skills, underscoring the potential for organizations to leverage workers’ transferable skills for different work opportunities. Several other topics are covered, such as how organizations can tap into historically underutilized talent pools. With this as the backdrop, I am resharing this bonus 74-page report by Harvard Business School and Accenture titled Hidden Workers: Untapped Potential.