How Generative AI Is Changing The Future Of Work: Navigating the Transformation to Come | Oliver Wyman Forum

Workforce Trends
Tags:

Many workers and leaders are optimistic about the transformative impact of Generative AI (GenAI) on productivity and how we work. According to this in-depth article derived from Oliver Wyman Forum’s new 99-page report, How Generative AI is Transforming Business and Society: The Good, The Bad, and Everything in Between,” it took the internet 17 years, and smartphones 21 years to achieve global adoption. However, in just months, ChatGPT and new GenAI tools have captured the attention of approximately half of the global workforce, who report using GenAI weekly at work.

The article highlights that in some nations, GenAI has become as ingrained in daily tasks as checking email, with India boasting an impressive 83% weekly adoption rate. Nevertheless, “mass adoption of GenAI does not automatically guarantee mass productivity.” According to this Oliver Wyman Forum analysis, GenAI’s impact on productivity is likely to occur in three phases:

  1. Individual Benefit (Time horizon: 1 year; Productivity Benefit: Low). Employees are learning Gen AI on their own and incorporating it into their daily work; organizations are discovering potential benefits.
  2. Scaling Up (Time horizon: 1-5 yrs; Productivity Benefit: Medium). A growing number of employees and teams are incorporating Gen AI into workflows; employers are beginning to restructure jobs and practices around AI.
  3.  Workplace Maturity (Time horizon: 6-10 yrs; Productivity Benefit: High). Entire organizations have been structured around Gen AI, including the creation of new jobs and reconstruction of established jobs, etc.

The article provides many other insights and data points for organizations to consider as they develop and implement strategic plans for integrating AI into the workplace. In case you missed it, you can check out Deloitte AI Institute’s report, Generative AI and the Future of Work, and Accenture’s report, Work, Workforce, Workers: Reinvented in The Age of Generative AI.