AI’s impact on work will lead to a job unbundling where tasks, rather than specific jobs, will become the future of work.
At the World Economic Forum’s 56th Annual Meeting at Davos, ADP Chief Economist Nela Richardson shares her insights on transitioning workers to focus on the most important tasks that will drive their productivity and value.
For more insights from Davos, click here.
Video Transcript:
Kristen Burkhalter, senior vice president, Axios Live
The workforce is definitely having a moment right now.
Dr. Nela Richardson, ADP Chief Economist and ESG Officer
And I think the workforce is always having.
Kristen Burkhalter
I'm always having a moment. But there's a lot of, you know, concern, worry, excitement, all of the good, that you are studying. And I think that if you think about, these data points, I'd love to know how AI is showing up in these data points with your workforce.
Dr. Nela Richardson
So I think, Eric laid that out initially with how it's working in terms of occupations that we're seeing those, careers that have AI exposure and measuring AI exposure is also a really interesting feat in itself, that early career, because you can match ADP's demographic data to see who is being impacted, not just what is being affected by AI.
But there's a second level of that. Traditionally, economists have really measured the labor market by this idea of creation and destruction of jobs, and that is quickly expiring, Kristen. It's more, as Eric mentioned, the creation and destruction of tasks and what tasks are being created by these new technologies and what tasks are being, resolved and put away by these new technologies.
And at ADP, we can not only measure those tasks, but we can also evaluate them in terms of compensation. So if you think about a future where you have this big productivity boom, but you're able to mitigate the risk of worker transition, that's a beautiful future because you use AI to solve the problems of AI. And that's what the Frontier Research is doing. What are those high value tasks of the future that we can transition workers into?
