adminThe worldwide boom in generative artificial intelligence will usher in an age of accelerated productivity and greater prosperity for some — and profound disruption for others, primarily knowledge workers, according to a new report by consultants McKinsey & Co.
Whole swaths of business activity, from sales and marketing to customer operations, are set to become more embedded in software — with potential economic benefits of as much as US$4,4 trillion, about 4,4 percent of the world economy’s output — according to the study by McKinsey’s research arm.
Generative AI will give humans a new “superpower”, and the economy a much-needed productivity injection, said Lareina Yee, a senior partner at the firm and chair of McKinsey Technology, in the report.
The research examined 63 use cases for generative AI, the type of tools that can generate content such as text or images based on a prompt, across some 850 occupations.
Depending on how the technology is adopted and implemented, productivity increases could range between 0,1 percent and 0,6 percent over the next 20 years, it found.
“Business leaders need to understand which activities can be changed, and how they want to rethink that,” said Yee. “That is a leadership choice, and it’s also execution.”
The transformation will pile pressure on the labor force, especially for higher-wage knowledge workers whose activities “were previously considered to be relatively immune from automation,” the report said.– Bloomberg
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