Get Ready: AI is Coming for Your Job (But It Might Be a Good Thing)

On the first anniversary of ChatGPT in a year that saw generative AI go mainstream, I thought it essential to examine the impact of the technology, and AI more broadly, on the workforce while providing recommendations to stay ahead of the coming transition for individuals, companies, educational institutions and governments, as each has a role to play in raising the AI IQ of society.

Artificial intelligence promises to profoundly transform economies and workplaces globally in the coming years. According to a report by McKinsey, AI technologies could deliver more than $13 trillion in additional global economic activity by 2030. Additionally, generative AI tools such as ChatGPT are estimated to contribute an additional $4.4 trillion in the same timeframe. These projections highlight immense opportunities in AI, including higher corporate profits, productivity gains, innovative solutions and new ways of working.

However, any rapid technological shift inevitably brings some disruption.

As AI automates specific tasks and jobs, McKinsey expects that 15% to 25% of current work activities globally, equivalent to 400 million to 800 million jobs, could be displaced by 2030. McKinsey goes on to predict that this workforce evolution driven by generative AI and automation will occur in over just a 10-year transition period − an unprecedented pace compared to prior workforce transitions over more extended timelines.

Unlike past industrial revolutions focused on manual labor alone, experts warn this AI shift could impact white-collar office jobs as much as blue-collar ones. For individual workers, transitioning to entirely new roles or evolving responsibilities may require focusing more on uniquely human abilities.

The good news from prior workforce shifts is that technologies often create more prosperity and jobs long-term than they initially eliminate. However, the transition brings growing pains that require collaboration on reskilling and training. Preparing for AI's impact will demand urgent action and investment from governments, educational institutions, businesses and individuals. Schools must equip students with versatile, future-proof skills and hands-on AI experience. Companies must provide ample reskilling opportunities and internal mobility. Policies should remove barriers and incentivize adult-learning programs. Individuals must take ownership of the development of lifelong skills. With preparation, organizations and workers can harness AI to unlock new potential rather than simply react to disruption.

Unprecedented shortened timeline

An important aspect that makes this AI workforce shift unprecedented is the compressed timeline. McKinsey predicts much of this disruption could unfold over a decade. To put that into perspective, here is how it compares to the pace of past workforce evolutions:

This expected, rapid change means today's workers have only about half a generation to reskill and transition to the AI-powered economy. Educational systems, government policymakers, corporate training programs and social safety net structures will all need to undertake rapid adaptations at an unprecedented speed to address the workforce disruption driven by advances in generative AI over the next decade.

The condensed timeline makes urgent, coordinated action critical. Unlike past transformations centered on manual labor, the breadth of impact spanning white-collar and professional roles means no workforce segment can ignore this trend.

The role of educational institutions

Education plays a critical role in equipping future generations for the AI-transformed economy. Most current curricula and teaching methods need to align with the future needs of students in a technological landscape transformed by advances like generative AI. Educational institutions must incorporate new technologies like generative AI into learning faster. This reluctance is counterproductive. If the purpose of education is to prepare youth for the workforce and full participation in society, then curricula must evolve to provide technology literacy relevant to the modern world. Students need exposure to AI through hands-on learning so they gain practical experience.

Here are some recommendations for how educational institutions can reshape learning by building AI IQ for the AI age:

With these changes, students will gain skills to be adaptable for the future and become collaborative workers who can use AI responsibly to enhance innovation and productivity.

The role of individuals

While educational institutions create programs for future generations, everyone should develop basic AI literacy and look for opportunities to use these tools to enhance productivity and creativity.

For many roles, AI offers the potential to accelerate critical workflows:

The key across all contexts is maintaining human oversight as capabilities advance. Blind delegation or replacement is ineffective, while hands-on learning enables mastery.

Beyond adopting AI in one's current role, individuals should do the following:

With lifelong learning, individuals can take charge of their trajectory and remain irreplaceable as AI matures.

The role of companies

Organizations must also invest heavily in upskilling programs for those already in the workforce. Employees across fields will need new technical capabilities to increase their AI IQ to work collaboratively with AI. Companies should provide ample training opportunities and incentives to train staff on relevant emerging skills continuously. Hiring approaches should value adaptability and learning aptitude over specialized expertise with a shorter shelf life. Policies should support internal mobility and redeployment as roles evolve.

Here are some best practices for organizations managing AI-driven workforce transitions:

Governments should fund technology-focused vocational programs, subsidize professional certifications in impacted fields, and offer tax credits for approved reskilling initiatives. Regional economic planning can help identify training gaps.

The role of governments

Governments have a significant role in building society’s collective AI IQ as the workforce transitions to an AI economy through policy and funding. Here are some of the critical responsibilities of regional, federal and local governments:

Governments can smooth workforce transitions to an AI-powered economy with supportive policies and funding schemes.

Opportunities outweigh risks

The rapid pace of AI progress brings immense opportunities but also some risks if appropriately managed. However, with ample foresight, investment and training, we can create an inclusive future where AI augments human capabilities for the betterment of all.

This comprehensive approach focuses on transforming our institutions to keep pace with accelerating technology. Collaboration among sectors will be crucial. We must start now because the future is closer than it appears. With preparation, those organizations and individuals who build their AI IQ and embrace AI proactively will be positioned to maximize its benefits.

The recommendations here are starting points. Continued experimentation, dialogue and innovation are essential to meet the challenges ahead. But the tremendous potential makes it a goal worth striving for. The AI revolution is here – and with wisdom, we can shape it for the common good.