Oliver Wyman – GenAI & Business & Society, 2024

Generative artificial intelligence (AI) has the potential to significantly impact society and the economy, but its effects are not yet fully understood. The positive and negative consequences of generative AI are explored, including its impact on productivity, job loss, personal fulfillment, and isolation. Although it is uncertain how exactly the technology will transform the world, it is acknowledged that it will have significant effects on various aspects of life. What sets generative AI apart is that even its creators are warning about the potential downsides, highlighting the ambivalence surrounding the technology. However, there are opportunities in its development, and business and government leaders, as well as regulators, will play important roles in shaping its future. Consumers and workers will also contribute to determining the speed and extent of its benefits. To understand attitudes towards generative AI, the Oliver Wyman Forum conducted surveys with 25,000 people across different countries. The findings indicate that while many employees believe AI can aid them in their current jobs, they are also concerned about automation. Additionally, although many employees use generative AI at work, they do not consider it very trustworthy. However, they remain willing to rely on it for important financial decisions and are open to sharing personal data for an improved user experience. Overall, there is a growing consensus that generative AI will have a massive influence on the workplace and the consumer economy.