TEANECK, N.J. - A study released today by Cognizant (NASDAQ:CTSH) in partnership with Oxford Economics suggests that generative AI (gen AI) will affect 90% of jobs in the United States, indicating a significant shift in the workforce and economic dynamics. The study, titled "New Work, New World," anticipates that half of all jobs will undergo considerable change as gen AI is deployed to automate tasks, with around 9% of workers potentially being displaced.
Generative AI, known for its ability to enhance operational efficiency and foster innovation, is expected to increase U.S. productivity by 1.7-3.5% and potentially add between $477 billion and $1 trillion to the annual U.S. GDP over the next decade. The study's economic model, which assessed the impact on 18,000 tasks that underpin the U.S. economy, suggests a rapid escalation in AI adoption from 13% to 31% within four to eight years, before reaching maturity after 15 years.
The impact of generative AI is not limited to manual and routine knowledge work, historically affected by technological advancements, but is also set to disrupt higher-level knowledge jobs. The study points out that roles in computer programming, web development, and other tech-centric fields could see a theoretical maximum exposure score to automation of up to 50%, which might rise to 80% by 2032. Even C-Suite executives, including CEOs, may encounter a significant shift in job tasks due to gen AI, with an exposure score of over 25%.
In response to these changes, Cognizant emphasizes the importance of strategic reskilling. The company has launched the Synapse initiative, aiming to redefine tech education and workforce development, with the goal of equipping over one million individuals for the digital economy by 2026.
The study underscores the urgency for leaders across all sectors to collaborate on fostering a trust compact that enables businesses and economies to flourish in the age of generative AI. It also highlights the need for new skills to manage business strategy and AI, suggesting that reskilling will become an integral part of employees' workdays.
The information in this article is based on a press release statement.
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