The Future of Jobs in the Era of AI March 2021 By Rainer Strack, Miguel Carrasco, Philipp Kolo, Nicholas Nouri, Michael Priddis, and Richard George
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.Faethm AI is the world’s data source to understand the impact of automation on economies, industries, companies, jobs, tasks, skills and people. Faethm’s SaaS AI platform was launched in 2017 and has grown rapidly to now serve Governments and Companies in 21 industries and 26 countries from offices in Sydney, London and Austin. A sophisticated knowledge graph and multiple AIs underpin platform modules that deliver data and insights about automation, reskilling and retraining workers for new jobs, economic and investment scenario modelling and COVID resilience and remote working. In 2018 Faethm was one of the first companies globally to be invited to join the World Economic Forum’s Centre for the Fourth Industrial Revolution. Awards since include the Tech Rocketship award for AI from the UK Government’s Department for International Trade, the Skills Bridge award from the Government of Luxembourg and Best New Tech Platform from the Australian Computer Society.
Contents01 Introduction02 Three Components of Workforce Imbalances05 A Closer Look at Three Markets11 Growing Demand for Technological and Soft Skills13 Sensitivity of Outcomes17 Building an Adaptive Workforce21 Recommendations for Governments23 Recommendations for Companies26 Recommendations for Individuals29 The Way Forward31 Appendix A• Methodology33 Appendix B• Seventeen Technologies Under Consid-eration
1 THE FUTURE OF JOBS IN THE ERA OF AI The Future of Jobs in the Era of AI However, the real picture is more nuanced: though these technologies will eliminate some jobs, they will create many others. Governments, companies, and individuals all need to understand these shifts when they plan for the future. BCG recently collaborated with Faethm, a firm specializing in AI and analytics, to study the potential impact of various tec...
