12 Feb A government blueprint to adapt the ecosystem to the future of work
Digital and artificial intelligence technologies will likely have a substantial economic and social impact. Governments can act now to create shared prosperity and better lives for all citizens.
In the coming years, automation will have a substantial economic and social impact on countries around the world—and governments will by no means be passive observers. This report seeks to provide government leaders and policy makers with the foundation to harness the potential of automation while mitigating its adverse effects.
Automation can be a positive disruption that improves everyone’s lives
Automation has the potential to alter nearly every facet of work and daily life. Indeed, automation, digital, and artificial intelligence (AI) technologies are already essential to our professional and civic lives. The McKinsey Global Institute identified the adoption of digital technologies as the biggest factor in future economic growth1 : it will likely account for about 60 percent of potential productivity growth by 2030. AI alone is expected to yield an additional 1.2 percent in productivity growth per year from 2017 to 2030.
Promoting the adoption of automation is critical because many countries will need to more than double their productivity growth to simply sustain historic economic growth rates. In this context, the productivity boost from automation is necessary to avoid the negative consequences of stagnating economies, such as lower income growth, increasing inequality, and difficulty for corporations and households to repay loans.
Three challenges stand in the way of this opportunity
While automation has the potential to boost economic growth, it poses some key challenges to the nature of work. The public senses this shift. In a recent survey of 100,000 citizens in 29 countries, we found that job security was the number-one economic priority for the future. Our analysis has identified three challenges associated with automation.
To find out more go to: https://www.mckinsey.com/industries/public-sector/our-insights/a-government-blueprint-to-adapt-the-ecosystem-to-the-future-of-work?cid=other-eml-alt-mip-mck&hlkid=42b6db3a9da84ab8b549bc00131a12a3&hctky=9534635&hdpid=2adaf446-bd7b-40da-ad00-a0a41edd9c0f