The Transformative Era of Generative AI in the Global Economy and Workforce
(English version)
The era of Generative AI is unfolding with a profound and comprehensive impact across various economic and social spheres. This article explores the nuances of this impact, highlighting the critical importance of the topic and the reasons why readers globally should be attuned and engaged with it.
Significant Economic Impact of Generative AI: Generative AI can add trillions of dollars to the global economy. Estimates indicate an annual increase of $2.6 to $4.4 trillion through various applications, equivalent to the GDP of the United Kingdom in 2021. This would elevate the impact of all artificial intelligence by 15% to 40%.
Value in Various Business Areas: About 75% of the value of Generative AI is concentrated in areas such as customer operations, marketing and sales, software engineering, and R&D. We examined 63 cases where this technology addresses business challenges measurably, such as customer interactions, creative content creation, and code generation.
Transversal Impact Across Industries: Sectors such as banking, high technology, and life sciences may receive significant impact from Generative AI. For example, in the banking sector, it could add between $200 to $340 billion annually, and in retail and consumer goods, up to $660 billion per year.
Transformation of Work and Productivity: Generative AI can transform work by automating individual activities and enhancing workers' skills. It can automate up to 70% of current employee activities, especially in occupations with higher educational demands.
Acceleration of Workforce Transformation: With the increased potential for technical automation, workforce transformation is expected to accelerate. Predictions indicate that half of today's work activities could be automated between 2030 and 2060.
Increase in Productivity with Generative AI: Generative AI can significantly increase productivity but requires investments to support workers in transitions. It can add from 0.1% to 0.6% annual growth in productivity by 2040.
The Beginning of the Generative AI Era: We are at the start of the era of Generative AI, with great enthusiasm and promising initial results. However, challenges such as risk management, workforce upskilling with new abilities, and rethinking business processes still need to be faced.
Introduction and Productivity of Highly Qualified Workers: Research from MIT Sloan indicates that generative AI can increase the productivity of highly qualified workers, but must be introduced appropriately, establishing a culture of responsibility and encouraging peer training.
Growth in Productivity and Economic Innovation: A study from Brookings highlights the importance of productivity growth for long-term prosperity and well-being, an aspect in which generative AI can play a significant role.
Definition and Scope of AI: An article from the Journal of Economic Structures provides a broad view of what constitutes AI, highlighting its ability to perform human cognitive processes and its applicability in various sectors.
Impact on Maternal and Prenatal Health Care: McKinsey points out that the incorporation of AI in prenatal care reduced premature births, highlighting its potential in the health sector.
Economic Disparity Among Countries: McKinsey also notes that AI may widen disparities between countries, reinforcing the existing digital divide. Countries leading in AI adoption may benefit more than developing countries.
High-Performing AI Companies: A study from McKinsey reveals that high-performing AI companies are more focused on developing new businesses and sources of revenue, rather than just cost reduction.
Creation of New Occupations: A study from Goldman Sachs highlights that advances in AI are expected to have far-reaching implications in industries such as enterprise software, healthcare, and financial services.
Regional Impact and Public Policies: Deloitte Insights discusses how generative AI can affect regions with high concentrations of impacted workers, potentially leading to economic and social problems.
Education and Skill Level: The impact of generative AI is expected to be greater on workers with higher salaries and advanced education, who previously had less potential for automation.
Increase in Productivity in Customer Service: A study from NBER showed that customer support agents using an AI tool for their conversations had an increase in productivity of almost 14%.
Transformation in the Financial Sector: According to a study from Deloitte, generative AI has the potential to transform the financial sector, although it still requires human talent and strategic investments.
We are at the beginning of the generative AI era, marked by great enthusiasm and promising initial results. However, challenges such as managing risks, empowering the workforce with new skills, and rethinking business processes still need to be faced. The journey towards full integration and optimization of Generative AI is complex, but the possibilities are vast and promising.
Sources:
"Generative AI research from MIT Sloan" - MIT Sloan
"Machines of mind: The case for an AI-powered productivity boom" - Brookings
"Implications of AI innovation on economic growth" - Journal of Economic Structures
"The impact of generative AI on Black communities" - McKinsey
"Modeling the global economic impact of AI" - McKinsey
"Generative AI Could Raise Global GDP by 7%" - Goldman Sachs
"Generative AI and the labor market" - Deloitte Insights
"Generative AI holds huge economic potential for the global economy" - McKinsey & Company
"Measuring the Productivity Impact of Generative AI" - NBER
"The Impact of Generative AI in Finance" - Deloitte US #IA #Inovação #Tecnologia