The authors’ economic analysis shows that generative AI’s impact will be different than previous generations of AI and machine learning and will drive new levels of productivity in creative occupations and tasks. They offer a targeted method for leaders to review and redesign workflows, and rewrite job descriptions, to unlock the new potential of generative AI.

As chatbots from Microsoft and Google have been followed by a flood of new generative AI (GenAI) products from Amazon, Box, Salesforce, Oracle, and others, executives have been looking for the most effective ways to turn the potential of GenAI into practical applications. The potential is unprecedented — the technology not only transforms routine work, but brings the power of AI to creative and knowledge work, putting companies in position to achieve not only great gains in productivity, but also to create entirely new paths for enterprise reinvention.