Generative AI Requires Difficult Decisions

GenAI will lead to widespread worker displacement. How should leaders respond?

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Critical Workplace Decisions Ahead   Adapting to emerging technologies isn't a new challenge for corporate executives. But the arrival of a next-generation technology will test the ability of even the most seasoned CEOs to respond in a way that maximizes its benefits and limits its risks. Unlike other forms of automation, generative artificial intelligence (GenAI) won't just impact blue-collar and entry-level jobs. It will redefine many highly skilled professional jobs in disciplines across organizations. A newly released report from SHRM and The Burning Glass Institute, titled Generative Artificial Intelligence and the Workforce, found that the accelerating adoption of GenAI will cause the broad transformation of roles such as financial analysts, lawyers, software developers, marketers and human resource professionals. While few of those jobs will be fully replaced by GenAI, many will be augmented and fundamentally reshaped. Top executives will face difficult decisions as GenAI becomes a mainstay in their organizations. For example, the SHRM and The Burning Glass Institute report found that the surge in productivity and output GenAI will create over time is unlikely to meet a corresponding growth in demand for goods and services. This will lead to overstaffing in many industries. Senior leaders will need to craft mitigation strategies, such as hiring freezes, to minimize the disruption. They will also need to design talent management, governance, legal and cybersecurity strategies to capitalize on the vast productivity and efficiency benefits created by GenAI. At the same time, they will need to overcome its still-significant risks.   Read More     ADVERTISEMENT       Remote workers create a compliance conundrum for employers      States continue to pass laws impacting employers whose workforces are geographically dispersed. Join the complimentary webcast to help ensure you're aware of all current compliance obligations. Reserve your seat now.        What About My Job?   As the adoption of GenAI continues at a rapid pace, people are asking, "Will my job be replaced by GenAI?" In this episode of All Things Work, Gad Levanon, chief economist at The Burning Glass Institute, joins host Tony Lee to discuss topics including whether GenAI will replace jobs and transform work across industries. Listen Now       Rewards and Risks   Despite the promise of GenAI, concerns about the revolutionary technology keep many CEOs up at night. These worries include still-unsettled legal issues around copyright infringement, inaccurate or biased GenAI outputs, and new laws regulating AI use. Read More     Explore Further   SHRM provides resources to help business leaders capitalize on the benefits promised by GenAI. Generative Artificial Intelligence and the Workforce This research report from SHRM and The Burning Glass Institute provides information for organizations on how to anticipate and develop workforce strategies as GenAI disrupts work. How to Move Forward with GenAI To embrace new technologies safely, employers must develop policies for the use of GenAI tools and educate workers on guidelines and best practices. Microsoft and AFL-CIO Partner on Developing AI A historic tech-labor partnership will involve union members in AI development, train workers on AI and advocate pro-worker policies. HR Implications of Biden's AI Executive Order HR professionals searching for guidance on managing AI should pay attention to the Biden administration's October 2023 executive order that seeks to manage the risks of AI and reap its benefits. EU Reaches Deal on Regulation of AI European Union policymakers reached a deal late last year on the proposed AI Act, which includes steep penalties for violations. SHRM Resource Hub Page: Artificial Intelligence in the Workplace Insightful content and expert perspectives for organizations to leverage the potential of AI and human ingenuity to drive growth.     Every Saturday, All Things Work from HR Magazine provides thoughtful insights into the rapidly transforming nature of work and the workplace, and how HR, decision-makers and organizations worldwide are navigating and leading this change.       Connect with us on social!              1800 Duke Street, Alexandria, Virginia 22314 USA Contact Us | shrm.org This email was sent to manojdole1.Architectural@blogger.com. This email may contain advertisements. Unsubscribe or Change Email Preferences | Terms of Use | Privacy Policy © 2024 SHRM. All rights reserved.