The impact of GenAI on work worldwide

How is generative artificial intelligence, GenAI for short, impacting work around the world? How can we use GenAI to enhance both the quality and productivity of our work? And what investment decisions do companies face in this area over the coming years? This November, the World Economic Forum (WEF) will publish one of the first major global research reports offering answers to these questions. PwC is helping the WEF prepare the report.

A multidisciplinary team is currently preparing the report under the supervision of Till Leopold, head of Future of Work, Wages and Job Creation at the WEF, and Marlene de Koning, expert workforce transformation within PwC Netherlands. This intensive undertaking involves producing a report in less than six months that will help global organisations, corporates, policymakers and other stakeholders make the best possible decisions with regard to the use of GenAI. Leopold describes the project as ‘a bridge between technology and business, covering the impact of GenAI on employees, organisations and society as a whole.’

The societal impact of GenAI is already huge. While the technology gains recognition and promises endless possibilities, it is also raising questions and resistance. Will there be enough work left for everyone? Will jobs disappear, and in which professions will employees require retraining? How do we anchor so-called ethical AI and ensure that we use GenAI for good and not for destructive purposes, such as spreading fake content? 

De Koning: ‘It’s clear that GenAI is influencing how we work and significantly impacting organisations, business models and the tasks of employees. We need technologies like this.  A key question is: how can we ensure that it doesn't just improve efficiency and quality at work, but also increases work enjoyment and fulfilment? Can we use GenAI in a way that makes us more productive, while also making our jobs more satisfying? I sometimes refer to work as a playground for adults, and we’ve often made that playground too complex. In my view, GenAI can play a simplifying role by taking over tasks and making our work more manageable.’ 

Leopold shares this personal and professional interest in the societal impact of GenAI. ‘GenAI is growing. We are at the beginning of an era, which makes it all the more important to take the right decisions now. We hope to contribute to this with our report.’

The rapid development of GenAI means it is almost impossible to make long-term predictions, Leopold and De Koning agree. ‘Even within the short timeframe of this research, there have been constant changes,’ says Leopold. With that in mind, the team have aimed to create actionable content with their report, partly by working with scenario planning. The goal is to enable organisations and policymakers to derive concrete insights and action points for their short-term decision-making between, say, now and 2027.

‘We aim to present a comprehensive, realistic and nuanced picture of where we currently stand globally, and of the developments that are unfolding before our eyes,’ Leopold continues. ‘This means we also discuss issues that raise questions. What decisions will companies face in the coming years? What is the most optimistic scenario for organisations, employees and society with regard to GenAI? What happens if GenAI entails less favourable effects and developments— and what options do we have then? Which factors will shape the workplace of the future, and how can we influence them today? This report is intended for everyone operating at the centre of thinking and decision-making on this topic.’

Leopold and De Koning opted for a holistic approach in order to achieve maximum reach and impact. Together with their team, they gathered insights from the worlds of science, economy and psychology, conducting their research with as broad a geographical scope as possible. Both quantitative and qualitative data from sources such as PwC’s Hopes & Fears GenAI@Work and AI Jobs Barometer reports have been collected over the past few months.

The team consulted scientific articles, carried out case studies in various sectors, and held numerous interviews with leaders of global companies. De Koning: ‘We asked these organisations where they are on their GenAI journey, what their vision is, and which challenges they face. What struck me was the willingness among leading organisations to collaborate with us. Even at very short notice and during the summer period, many C-suite executives spoke with us. This suggests that the issue is widely relevant and that there is an enormous need for broad, in-depth insights.’

Leopold sees GenAI as one of the greatest challenges of our time. ‘The technology itself is neither good nor bad. The question is how we use it. Generative Artificial Intelligence is not just happening to us or autonomously imposing itself on us: it is a development that businesses, policymakers and society can and must take control of. The choices we make now will determine what our work will look like in the future.’ 

De Koning stresses the vital need for global organisations like the WEF to investigate how developments such as GenAI are affecting society. ‘As with all technological developments that have gone before, research, education and awareness-raising are crucial here. They will help us build trust in society, while also tackling important, complex challenges. Policymakers and large organisations must take responsibility for this and our report will give them new tools to do just that.’

The WEF and PwC have collaborated fruitfully for many years, notes Leopold. ‘What I greatly appreciate about our cooperation is PwC’s fact-based approach. We have been able to generate a great deal of output in a short time based on thorough research and with a focus on people. This report and our shared vision on GenAI align perfectly with PwC’s “human-led, tech-powered” approach.’