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A McKinsey’s new report has generated quite a stir this week, predicting it generative AI could add the equivalent of up to $4.4 trillion annually to the global economy and has the potential to automate 60% to 70% of employees’ time-consuming work today, adding 0.2 to 3.3 percentage points annually to productivity growth. The report represents an acceleration of McKinsey’s previous estimates, showing how fast ChatGPT and other large language models have the potential to turn the job around; particularly in customer operations, sales, software engineering and research and development.
It’s the latest and seemingly more optimistic view of the impact AI will have. In March, for example, Goldman Sachs estimated that 300 million jobs could be lost or cut by AI. Others have had rosier prospects in the past, too, including a report by the MIT Task Force on Future Jobs that suggested AI will drive innovation and job creation.
For now, it seems too early to know. When it comes to making AI work right now, this McKinsey podcast was worth listening to, watching the impact of generative AI on HR specifically. It includes thoughts from recently retired McKinsey partner Bill Schaninger, who spoke at our recent Forbes Future of Work Summit on employee experience, hybrid working and the importance of middle managers. You can sign up to hear the entire summit here.
AS back-to-office policies keep piling upGoogle’s sanctions and Salesforce’s incentives are just the latest examples, many missing the point, writes contributor Jan Bruce. CHROs say getting people on site is still one of their toughest challenges, but the the answer may lie in improving civility in the officecreating more trust and building better managers rather than using carrots or sticks.
Responsible for new ways of working. chief evangelist. Workplace Experience Manager. These are just some of the titles that companies are adopting for people who manage remote work models and play a vital role, writes contributor Gleb Tsipursky, who also shares how to improve hybrid worker engagement.
During an event in New York on Monday, cofounder and CEO Marc Benioff presented Salesforce AI Strategyfrom new products to $500 million to invest in startups. Forbes Alex Konrad shared the plans of the tech giants.
parent company of Google Alphabet warns employees not to put confidential materials into chatbots, including its own Bard chatbot, Reuters reported on Thursday. Forbes Ana Faguy relates how he is just one of a growing number of affected companies employees may be sharing sensitive internal information be leaked through artificial intelligence.
In a new report, online learning giant Coursera finds it neither the US nor the UK are at the forefront when it comes to skills, writes contributor Nick Morrison, which could counter the ambition of leaders to be dominant in technology. Meanwhile the the tech talent wars are alive and wellwrites contributor Deborah Lovich, despite ongoing layoffs in the tech sector.
COMING SOON: GLORIA CHEN, CHIEF OFFICER OF ADOBE
Forbes spoke earlier this year with the tech company’s longtime executive about its new Founders Tower building, how it avoids company-wide layoffs, and what the concept of employee experience means in a workplace where evolution.
You recently led a rewrite of Adobe’s corporate values. Why?
I was sitting in a meeting in late 2021, exhausted. AND [Adobe CEO] Shantan [Narayen] he turned to me and literally out of the blue said Hey Gloria. Have you ever thought about our values and if the time has come to rethink them? We were about to enter our 40th anniversary. We knew we were going to enter a phase where we were really looking for new ways to work. And we have grown tremendously. Like a third of our workforce joined during the pandemic.
There are so many disruptions going on in Silicon Valley. How are you working to try and address these issues, as the social contract may be changing for tech workers?
It’s about psychological safety. It’s about that environment where people feel that strong sense of belonging and security that helps them to be the most innovative and creative. We know that we must constantly review our priorities, reallocate resources, make organizational changes where necessary. But we also know that there is, at its core, a humanity in everything we do. And I think that’s something that takes years to build and an instant to lose.
You said in a interview that Adobe is committed to no company-wide layoffs, while many tech companies have repeated shifts. Isn’t that a risk?
We come from a very strong position. We always try to be very disciplined about our hiring, our resource allocation, our investments. So mass layoffs? This is not part of our playbook. That’s not to say there aren’t places where we need to examine, on an ongoing basis, how we run the business, what our various needs are, and [how were] balance between different organizations. But this tool declare thousands of people [redundant] and this is an assignment that has been entrusted to the organization? It’s not in our playbook and we do everything we can to avoid going there.
You opened Founders Tower when many companies cut back on office space.
Our employee experience team was already starting to look ahead to the future of work when we were planning it. If anything, the pandemic has only helped accelerate what they were already planning, which is people using physical space differently. It’s not just floors and floors of cubes where people show up to work at their desks. We have 400 different workspaces: town halls versus collaboration spaces versus team meeting areas.
Employee Experience EVP is part of your title. What does that phrase mean to you?
I haven’t found the words yet, but what I’ve been thinking about a lot is the sports analogy of building winning teams. It’s not just about creating a great experience for the individual employee. He is putting together a great team through our recruitment. It’s the conditioning, it’s the training, it’s the training, it’s the field environment. It’s all of that. No one ever said exercise was fun. But doing it in service of being a winning team instead of just creating the most lush and decadent experience for people? I think that’s where the future is going.
FACTS + COMMENTS
Office housework is a term for the largely thankless tasks that contribute to the smooth running of a workplace, such as organizing parties, ordering food, or taking notes in meetings:
- 29%: How much more likely women are to report doing housework in the office, than white men
- 48%: how much more likely women were to volunteer for a task that benefited everyone, than men
- A man who doesn’t help is busy; a woman is selfish.: Former Facebook COO Sheryl Sandberg and organizational psychologist Adam Grant noted in this 2015 piece.
Related companies founder and managing partner Steve Jangone of the more recent additions to the Forbes Midas Listshares is about people, culture and his investments in San Francisco startups.
STRATEGIES + TIPS
Many tech workers say they spend four hours or less on focused work. that’s how optimize your working day.
Work virtually? that’s how politely assert your ideas remotely.
Sensation overwhelmed? Reduce these hidden waste to stay productive.
In a recent survey of tech workers, only 25% of respondents said they worked eight hours or more every workday. Which part did he say to spend four hours or less on concentrated work?
Check if you have it right here.
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