The report titled “Generative AI and the Future of Work in America” highlights the profound changes in the US labor market during the pandemic (2019–2022) with 8.6 million occupational shifts, 50% more than the previous three-year period. The growth of generative AI is expected to accelerate automation, leading to up to 30% of hours currently worked in the US economy being automated by 2030. However, the impact of generative AI is anticipated to enhance work for STEM, creative, and business professionals rather than eliminating jobs outright.

The report identifies three major forces shaping the future of work: automation (including generative AI), federal investment in infrastructure and net-zero transition, and long-term structural trends like aging, technology investment, e-commerce, and remote work.

The pandemic accelerated certain job trends, leading to occupations like customer service, office support, and food services facing decline. On the other hand, healthcare, STEM, management, and transportation services are expected to experience continued growth.

The report emphasizes the need for additional occupational transitions, estimating 12 million more shifts by 2030. Workers in lower-wage jobs are up to 14 times more likely to change occupations compared to those in higher-wage positions. Employers will need to adapt their hiring approaches, considering skills and competencies over credentials, to accommodate this evolving job landscape.

The report highlights the importance of workforce development on a large scale and inclusive hiring practices to connect workers with the training needed for better job prospects. Finally, the potential benefits of generative AI are discussed, including increased labor productivity, but it also emphasizes the need to manage worker transitions and risks effectively.

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Link to Report: https://lnkd.in/gCGgZDNs