A secret you didn’t know about AI: Productivity

Here’s a secret I bet you didn’t know about AI – according to PwC, it’s driving a productivity revolution.

I’ve seen in my own business a massive uptick in my productivity by using AI tools every day.

The PwC report had some key findings:

1️⃣ AI is creating more jobs than it’s replacing, with an estimated 12.8 million net new jobs created by the end of 2023!

2️⃣ The demand for AI skills is skyrocketing, with a 71% increase in AI-related job postings in the last year alone!

3️⃣ AI is transforming industries across the board, with healthcare, manufacturing, and finance leading the way!

📈 AI-exposed sectors see significant productivity gains: 4.8x greater labour productivity growth in sectors more exposed to AI.

↗ Jobs that demand AI skills are increasing: Number of jobs that demand specialist AI skills (like deep learning) have grown 7x since 2012 (far outpacing growth in all jobs which have risen only 2x since 2012).

💸 Jobs that require AI skills are seeing significant wage premiums: within occupations, average salaries of AI job postings are up to 25% higher if they require AI skills.

⏩ Skills needs are changing rapidly: Skills sought by employers are changing at a 25% higher rate in occupations most exposed to AI, while there are sharp declines in demand for some AI-replaceable skills.

PwC analysed over half a billion job ads from 15 countries that together comprise over 30% of global GDP to find empirical evidence of AI’s impact.

They examined how jobs are changing in industry sectors and individual occupations that are ‘AI-exposed’ which means AI can readily be used for some tasks.

Examples of AI-exposed occupations are financial analysts, customer service agents, and software coders.

Far from heralding the end of jobs, AI signals the start of a new era in which workers can be more productive and valuable than ever.

Thanks for letting me know about this report Rob McCargow, Darshan Chandarana, Julia Howes and Maria Luciana Axente

Check out the full report here.

Are you embracing your digital curiosity to master the AI skills you need in your current and future roles?