I can't remember the last time I read an article on anything that didn't mention AI (payroll, compensation, talent, workforce planning, etc.). The articles seem to fall into one of three categories: AI is going to revolutionize our lives and work (most), AI is over-hyped (a few) or I need to mention AI since it is the hot trend right now and relate it to HR, leadership, marketing etc. Hence, I was very pleased to see a recent report from Deloitte on AI that does a nice job of laying out what is Generative AI and providing a spectrum of possible outcomes and considerations (but leans towards it is coming, so take the boy scout motto and be prepared). I think it is worth downloading the full report just for the interesting charts.
The report is broken down into 3 parts:
1. What is Generative AI and why is it disrupting work? Because it can generate original content (sort of) though text, image video, speech and 3D. Generative AI for companies brings risk (cyber-security, job losses) and reward(more productive workforce, new idea generation). The future of Generative AI is still unknown so companies and leaders need to prepare for different scenarios and determine the most likely outcome(s).
2. What is Generative AI's likely impact on jobs? Goldman Sachs for the US estimated that 7% of jobs AI will be a substitute, 63% complement (data and financial analytics), and 20% being unaffected(plumbers, construction, chef). Work is broken down into jobs, that are further broken down into tasks and skills and AI will probably take over or enhance some tasks and skills, but not necessarily take over the job. Shows great graphs and charts on how this might break down.
3. Executive strategies to prepare organizations for change by taking 5 steps: hypothesis formation, data collection analysis, broad org experimentation, interactive testing and feedback and strategy refinement.
I would love to hear about how your org is preparing for AI. Do they have a policy on usage or is it banned? Are they having employees start to play with it? Are you seeing any job eliminations due to it? Is it being used as an enhancement tool or not used at all? Do you think it is hype or real?
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