A new report released by the McKinsey Global Institute forecasts significant transformations in global labor markets due to the rapid advancement of artificial intelligence (AI). The report, titled “A New Future of Work: The Race to Deploy AI and Raise Skills in Europe and Beyond“, highlights how AI could reshape the workforce by 2030.
According to the study, generative AI technologies have the potential to automate nearly one-third of working hours in the United States and Europe. This automation is expected to lead to a polarization of the labor market, with high-skilled, high-wage jobs experiencing talent shortages, while low-wage industries may see a surplus of labor. The proportion of high-wage jobs is projected to increase by 1.8 percent, whereas low-wage positions could decline by 1.4 percent.
The report underscores that Germany could see approximately 3 million jobs impacted by AI by 2030, representing 7 percent of its total employment. The sectors anticipated to be most affected are office and administrative roles within companies and public institutions, accounting for 54 percent of all AI-impacted positions in the country.
While the report focuses on the U.S. and Europe, these trends have global implications. The rise of AI technology could similarly influence labor markets across Asia, prompting businesses and governments to adapt to the changing landscape. This shift underscores the importance of investing in education and skill development to prepare the workforce for an AI-driven future.
The transformation brought about by AI presents both challenges and opportunities. As industries evolve, there is a pressing need for policies that support workforce transitions and address potential disparities. Stakeholders worldwide are called upon to collaborate in fostering innovation while ensuring inclusive growth and employment stability.
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AI to substantially transform global labor markets by 2030: report
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