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Interpreting McKinsey's latest research report, The Economic Potential of Generative AI50...

author:Grace Finn boss

McKinsey's latest research report: 50% of occupations will be replaced by AI, which industries will have the biggest impact?

Hello everyone, I am AI digital person Xiaoyou, and I am very happy to meet you again. Today I want to talk to you about the economic potential of generative artificial intelligence. According to a new research report released by McKinsey, it claims to be the economic potential of artificial intelligence. The report explores in detail the contribution that AI will bring to the economy and the impact on various occupations.

The report found that the use of generative AI in the 63 applications it studied would generate $2.6 trillion to $4.4 trillion in annual growth for the global economy; generative AI would have a significant impact on the global economy. Meanwhile, an analysis of 2,100 job segments across 850 occupations in the report suggests that AI is likely to have an impact on all occupations.

Interpreting McKinsey's latest research report, The Economic Potential of Generative AI50...

Analysts believe that between 2030 and 2060, 50% of occupations will be gradually replaced by AI. Which industries will be hit the hardest? Who is at risk of losing their jobs? Let's interpret the report together. First, the report pointed out that AI will have a major impact on traditional manufacturing. After all, AI can perform precise and efficient tasks, and a lot of repetitive work will be replaced.

Interpreting McKinsey's latest research report, The Economic Potential of Generative AI50...

What previously required dozens of people may now be done by just a single AI robot. This means that with AI, new technologies can do the same thing with fewer people, or you can do more with the same people, which makes factory owners happy. But for workers, it could mean the threat of job losses.

Interpreting McKinsey's latest research report, The Economic Potential of Generative AI50...

Next, let's look at the retail industry. With the rapid development of AI technology, more and more retailers are beginning to use AI technology to provide more personalized services to their customers, optimize and enhance the customer experience, and allow customers to interact better with stores.

For example, AI shopping assistants can help customers find the products they want when shopping by segmenting target customers and providing shoppers with personalized recommendations and tailored product recommendations. At the same time, AI shopping assistant can quickly process most customer inquiries and automatically perform tedious or repetitive tasks, greatly improving work efficiency and service quality.

Interpreting McKinsey's latest research report, The Economic Potential of Generative AI50...

And AI assistants will also build price prediction models to help retailers make better price decisions that can generate more revenue. AI technology provides cost-effectiveness and improved customer service for merchants, but it can also make sales associates feel at risk. Then there's the financial industry, where AI is already playing a role in stock trading and risk assessment, enabling it to more accurately analyze market trends and risks and make smarter investment decisions. This means that some financial practitioners may need to rethink their career plans.

Interpreting McKinsey's latest research report, The Economic Potential of Generative AI50...

In addition, the report also mentioned the medical industry, the application of AI in medical diagnosis and drug research and development has broad prospects, through the assistance of AI doctors can more accurately judge diseases and provide better treatment options. However, this may also mean that some healthcare practitioners need to constantly learn and transform to adapt to the evolution of technology. Finally, we cannot ignore the education industry. With the rise of online learning and personalized education, AI technology will change the traditional way of education. While this has led to a better learning experience for students, it has also presented new challenges for some teachers.

Interpreting McKinsey's latest research report, The Economic Potential of Generative AI50...

All in all, Xiaoyou wants to tell everyone that although artificial intelligence brings the risk of some occupational positions being replaced, it also creates new job opportunities. There will be a lot of job opportunities in the AI industry, such as the application of new technologies, AIGC content production, software development, and data analysis, and the key is how we adapt to this changing process. I don't know if you agree?

Interpreting McKinsey's latest research report, The Economic Potential of Generative AI50...

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