Shaken, not scurred
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| Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
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| Welcome back! This week, we confront the rumors that AI will replace our jobs.
| | | You’ve heard of FOMO, or the fear of missing out, and its counterpart, JOMO, the joy of missing out. There’s a new kid on the block occupying Gen Z’s mindshare: FOBO, or the fear of becoming obsolete. (Anyone else in the TOCA—tired of counting acronyms—camp?)
A new Gallup survey shows that Gen Zers are most fearful that technology will make their jobs obsolete, compared with any other age group, and that they’ve become more afraid in the past two years than anyone else. Are those fears grounded in reality? Let’s clear some things up.
It makes sense that Gen Zers might be afraid of new technology putting them out of work. Generative AI (gen AI) is the hot topic in all the business press this year, and companies have announced a mad dash to integrate the tech into their operations. Although there’s still a ways to go before its kinks are ironed out, it’s likely that gen AI will live up to its potential by the time Gen Zers are established in their careers. By that time, millennials will be in more senior positions and Gen Xers and boomers will likely be retired or nearing retirement. Those jobs in the middle, and theoretically belonging to Gen Z, may be vulnerable to automation alongside some entry-level work.
But the impact of gen AI won’t be distributed equally across industries or across the population. Gen AI actually flips the script on the labor story: until now, automation has had the most impact on workers without college degrees. In the future, gen AI is most likely to have the greatest impact on the work that college-educated workers do, according to McKinsey senior partner Lareina Yee and coauthors. Teachers, office support workers, and business and legal professionals are among those whose work could be most affected by gen AI. It is also expected to affect higher-wage jobs in developed countries faster compared with earlier automation technologies.
This isn’t a reason to sound the alarm, though. Technology has not only changed how people work for decades but also improved the way people work (or, at the very least, made them more productive). Just because gen AI is coming doesn’t mean it will replace all these jobs; it could actually create new jobs. It does, however, mean how people work will have to change.
Learning gen AI skills now, something some young professionals seem eager to do, could give Gen Z a leg up later. Aside from the soft skills that will keep Gen Z employable, digital skills across industries ranging from manufacturing to healthcare will be a key part of staying competitive. (Systems and analytical thinking, AI and big data know-how, talent management, and service orientation and customer service are all skill sets that are growing in importance, too.)
No need for FOBO by the robos! | | | | | | Workers in major metropolitan areas around the world are going to work in an office three to four days a week—just the way they like it.
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| | | — Edited by Alexandra Mondalek, editor, New York
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