- The Limitless Playbook
- Posts
- Mystery Gift Box #044 | 9 Interesting Things from the McKinsey's Generative AI Report
Mystery Gift Box #044 | 9 Interesting Things from the McKinsey's Generative AI Report
The best hidden gems I've found; interesting ideas and concepts, thought-provoking questions, mind-blowing books/podcasts, cool animes/films, and other mysteries ❤️
Hey friends,
9 interesting things from The economic potential of generative AI report by McKinsey 🤓
1. Generative AI drives economic values by enabling new use cases and increase labour productivity across different work activities
Generative AI has the potential to change the anatomy of work, augmenting the capabilities of individual workers by automating some of their individual activities. Current generative AI and other technologies have the potential to automate work activities that absorb 60 to 70 percent of employees’ time today.
Generative AI could enable labor productivity growth of 0.1 to 0.6 percent annually through 2040, depending on the rate of technology adoption and redeployment of worker time into other activities.
2. 75% of values enabled by Generative AI falls under four areas: Customer operations, marketing and sales, software engineering, and R&D
3. Across the 63 use cases, generative AI has the potential to generate $2.6 trillion to $4.4 trillion in value across industries.
4. Estimated that almost one-fifth of the value that generative AI can unlock across use cases would take advantage of multimodal capabilities beyond just text to text.
5. Funding for generative AI is still a fraction of total investments in artificial intelligence but it’s growing rapidly, with a total of $12 billion in the first five months of 2023
6. Generative AI can be a virtual collaborator that drives value by working in partnership with workers, augmenting their work in ways that accelerate their productivity.
7. Generative AI is likely to have the biggest impact on knowledge work, particularly activities involving decision making and collaboration, which previously had the lowest potential for automation.
8. The activities most impacted by advances in technical abilities of Generative AI seems to be educators, knowledge workers, and creatives
9. Productivity Growth vs Employment Growth
⛰ 4-4-4 Exploration Project
Each month, I would explore one new thing; a skill, a subject, or an experience.
January 2023: Writing and Storytelling (Subject) ✅
February 2023: KURIOS – Cabinet of Curiosities (Cirque Du Soleil — Experience) ✅
March 2023: 28 Days of Cold Exposure (Subject and Experience) ✅
April 2023: Complete Growth / Product Marketing Course (Subject) 🟥
May 2023: LL project (Skill + Subject) ✅
June 2023: LL project 2 (Skill + Subject) ✅
July 2023: LL project 3 (Skill + Subject) 🟧
📚 This week, I finished reading…
Few books in progress 🤓
Have interesting gems you want to share with me and others? Share it by replying to this email and I will include it in the next gift box :)
With love,
Ryan O. 🎮
😈 Connect with me on:
🎬 YouTube, 🐦 Twitter, 👨🏻💻 LinkedIn, 🌍 Personal Website, and 📸 Instagram