According to the IMF, AI is expected to impact around 40% of global employment, with advanced economies being more affected than emerging markets and developing economies. The ability of AI to impact high-skilled jobs may lead to lower wages and reduced hiring, and in extreme cases, some jobs may disappear.
A new Deloitte report on generative AI reveals that business leaders are optimistic about its potential but also concerned about its societal impact and the availability of technical talent. The survey found that 79% of respondents expect generative AI to transform their organizations within three years. However, they are focused on practical benefits today and worry about centralizing global economic power and increasing economic inequality. Technical talent is seen as the main barrier to AI adoption, followed by regulatory compliance and governance issues.
Per the Harvard Business Review, Generative AI, such as ChatGPT, is playing a role in catalyzing a data-oriented culture within organizations. A survey shows that there has been a significant increase in the establishment of data and analytics cultures in companies, which can be attributed to experiments with generative AI. This technology can potentially transform organizations and their cultures, but it requires education, strategic thinking, and production deployment to realize its impact fully.
Why do we care?
Despite my skepticism of AI PCs, I’m not skeptical of AI broadly. There’s demand – and even without AI directly, data continues to grow in value. IT service firms can capitalize on this by offering services that integrate generative AI with data analytics or focus on data. And even without AI itself, AI frameworks for usage are a necessary step.