Generative AI has the potential to revolutionize workplace efficiency and transform job roles, according to a recent study conducted by KPMG. The survey findings reveal that an impressive 72% of respondents indicated that AI has the potential to substantially improve productivity in their organizations. Furthermore, 66% of survey participants anticipated a significant transformation of the working environment in the near future, and 62% acknowledged that AI could spark new innovations and cultivate the development of products and services.
KPMG Principal of Human Capital Advisory, Felicia Lyon, noted that AI has a great potential to improve organizations’ strategic tasks, giving employees more time to focus on them and granting them easier access to necessary analytics. However, respondents in the survey also expressed their apprehensions about the potential adverse impacts brought about by AI implementation, such as limited career advancements for employees and job reliability concerns.
In order to seamlessly integrate AI into organizations, executives must prioritize the improvement of skills related to AI, ML, NLP, text-to-speech and speech-to-text. However, nearly a third of U.S. executives have difficulty drafting a proper people strategy to combine the existing workforce with AI capabilities. In addition to more IT-related job creations, they expect manufacturing jobs to have an adverse effect from adoption.
To address these potential concerns, KPMG emphasizes the need to cultivate a responsible AI usage environment through upskilling and reskilling existing employees. Organizations should equip their workforce with the necessary skills to navigate successfully through the AI implementation process. They should also focus on deconstructing jobs, providing employees with new roles, training, assessing skills proficiency, and job replacement assistance programs in cases of no future fit.
KPMG is a professional services company with a wide variety of services, including tax, finance, accounting, audit, and advisory. They are dedicated to providing their customers with the best services in the industry.
Felicia Lyon is the principal of Human Capital Advisory with KPMG’s U.S. Consulting practice. Previously, she served as Managing Director, Global Banking at Barclays. She currently focuses on working with organizations to ensure that AI is implemented smoothly and successfully. She also devotes herself to exploring the use of AI in an ethical manner.
