Last week, McKinsey released their 76-page long report on generative AI and the future of work in America. Two of the key conclusions from the report are that generative A.I. will upend the workforce, forcing 12 million job switches and automating away 30% of hours worked in the U.S. economy by 2030.
The report is worth reading if you want to get some perspective on how generative A.I. is affecting the workforce.
Here are 5 most important things you need to know:
1. McKinsey predicts that 12 million people will need to change jobs by 2030
2. Over half of the 8.6 million recent job changes in the US were people leaving food service, customer service, office support, and production jobs.
3. By 2030, generative AI could automate up to 30% of jobs.
4. Generative AI could automate many jobs in STEM, healthcare, builders, and professional fields, but other jobs in these fields will continue to grow.
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5. Healthcare, STEM, and construction jobs are growing, while office support and customer service jobs are declining.
Bottom line: A.I. will either change the way certain jobs are done or create an opportunity for employees in lower-paying jobs to move into high-paying positions, provided they receive adequate training.
Also published on Medium.