We have long feared that artificial intelligence (AI) will wipe out jobs. These fears have intensified with the rise of generative AI – capable of creating accurate and realistic text, images or audio. Could journalism and writing become obsolete? Contrary to doomsday predictions, a recent study suggests that generative AI can create jobs rather than eliminate them.
McKinsey consultancy released a report entitled “The Economic Potential of Generative AI: The Next Productivity Frontier”. This study explored 850 roles and 2,100 tasks across 47 countries.
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It evaluated not only what share of current tasks could be taken over by generative AI, but also what new occupations and responsibilities could arise as a result of this technology. The conclusion? Generative AI can generate up to $4.4 trillion a year in the global economy.
This value is the estimated upper limit; the bottom is $2.6 trillion. Even in the most conservative scenario, the figures are almost twice the value of the Brazilian GDP.
With real-time AI suggestions, agents resolved 13.8% more issues per hour. They answered calls faster, resolved complaints efficiently, and could simultaneously handle multiple calls.
It is clear that there is an important challenge: retraining workers for these new technological demands will be necessary. Companies and governments should invest in the transition of workers to the new needs of the market.
According to the McKinsey report, the biggest impact will be in four categories: customer operations; marketing and sales; Software Engineering; Research and Development.
In marketing and sales, for example, AI can produce personalized creative content on a scale never seen before. Software engineers use AI to write natural language-based code.
In the area of research and development we see even more innovation: proteins are rapidly modeled by AI to respond to specific biological challenges helping in the design of artificial protein drugs.
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