McKinsey What is the future of work?

Acceleration of Workforce Shifts |The pandemic sped up existing trends, with more people likely to change occupations by 2030. AI could cause an additional 12 million occupational shifts in the US workforce by 2030

Rise of High-Skill Jobs | Job growth is expected to be strongest in areas like healthcare, science, technology, engineering, and math (STEM).

Decline of Mid-Skill Jobs | Jobs in food service, production work, and administrative support are likely to see a decrease.

Focus on Reskilling | Businesses will need to invest in retraining programs to equip their workforce with the evolving skills needed.

Importance of Talent: The report highlights the crucial role talent plays in an organization’s competitive edge, and the challenge of finding skilled workers.

Rise of Generative AI | Generative AI will automate routine tasks, freeing up human workers to focus on more strategic and creative endeavors. This will require a shift in job descriptions and skill sets.

Cognitive and Social-Emotional Skills Take Center Stage | As AI handles repetitive tasks, critical thinking, problem-solving, decision-making, and social-emotional intelligence will become increasingly important for human workers.

Importance of Human-Computer Collaboration | The future of work will likely involve humans and AI working together to achieve optimal results.

Focus on Skills over Roles |  Businesses may prioritize hiring for specific skills rather than fitting candidates into predefined roles. This allows for greater flexibility and fosters the creation of cross-functional teams.

The Human Touch Endures |While automation is on the rise, soft skills like empathy, judgment, and strategic thinking will remain essential for tasks that machines currently struggle with.