3rd June 2024 – (London) In a recent report titled “A new future of work: The race to deploy AI and raise skills in Europe and beyond,” the McKinsey Global Institute has unveiled a comprehensive analysis of the transformative potential of artificial intelligence (AI) on the global workforce by 2030. The report, highlighted by China Media Group, predicts significant changes to labour markets worldwide as AI continues to advance at an unprecedented pace.
According to the report, generative AI has the potential to automate nearly one-third of working hours in the United States and Europe, resulting in a polarisation of the labour market. This could create talent shortages in high-skilled, high-wage jobs, while low-wage industries may experience a surplus of labour. The study indicates that high-wage jobs could see an increase of 1.8 per cent, while low-wage jobs may decrease by 1.4 per cent.
Germany, a key focus of the report, is projected to witness approximately 3 million jobs affected by AI by 2030, accounting for 7 percent of its total employment. Office jobs in administrative sectors of companies and public institutions are expected to bear the brunt of the impact, representing 54 percent of all AI-impacted positions.
The report underscores the critical importance of upskilling and reskilling the workforce to effectively navigate the challenges and opportunities that AI presents. It suggests that individuals can adapt to the changing landscape by actively participating in training programs.
Researchers at McKinsey urge managers to make substantial investments in employee education and training, emphasising that the full potential of AI cannot be realized without a significant improvement in the skill levels of the workforce.
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