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Hello, everyone. Here is Ricardo Vargas, and this is the 5 Minutes Podcast. And today, today I want to talk to you about the main insights of the PwC AI Jobs Barometer 2024, a report that I had the chance to read recently, and it analyzes over half a billion job postings. Let me repeat half a billion. It's not half a million. It's half a billion, 500 million job postings across 15 countries trying to understand how AI is transforming the world of work, and why does this matter for us in project management, it matters because of everything. The report shows that sectors with high AI penetration like professional services, IT and financial, including here project management are experiencing 4.8 times higher productivity. It's not 4.8%, it's 4.8 times if you compare it with, uh, sectors that are not exposed to AI, and for us, this clearly means one big thing projects in this AI exposed areas are delivering far more results with much less human effort. Ai is becoming a true engine of efficiency and another important finding jobs requiring AI technical skills are growing three times faster than all other jobs, and they offer an average 25% wage premium. But there is a catch. The biggest impact of AI doesn't come from machine learning engineers. From this very technical background, AI comes from everyday professionals like us project managers, analysts, Analyst PMO members using tools like ChatGPT, like Notebook LM to draft content, to generate reports, to study, to make decisions and prioritize work. That means that even without being a programmer, you can, you should, and you must learn to leverage these tools in your project work. The report also reveals that jobs more exposed to AI are seen as skills requirement Shift 20% faster than less exposed ones. So, as all of us as professionals, we need to keep learning to stay relevant in a fast-moving job market. And there is more jobs openings in AI exposed sectors are still growing, just at a slower pace. This suggests that AI is not eliminating jobs in bulk, but helping fewer people to get more done, and something that any project manager will benefit from in terms of time and budget. And of course, this has a direct implication in our work as PM. It's the way we design and refine our team structures. Projects that once needed dozens of analysts can now be handled by smaller teams and empowered by AI. And this will change how we plan timelines, budgets and even risks because the risks will be different. They because you have less people, you will have less human-related risks and at the same time you will have more biased risk and more AI-related risks that will require a completely different approach to mitigate them. PwC also highlights that the company's leading AI adoptions are not only expecting efficiency gains, but also brand-new business models and revenue growth. In other words, AI is not just about doing things better, and this for me was one of the most brilliant parts of the report. It's about doing things differently. And that mindset shift is critical for the future of projects. And now I want you to leave this podcast to finish this podcast, leaving you a couple of questions. Are you preparing your team for this new reality? Are you hiring based on these skills? Are you using AI to boost productivity or just to do the same old tasks in a faster way? And remember, this report concludes that AI is not just technology. It's a new way of delivering value, a new way of leading. And for those who are willing to learn and adapt, this is a once in a generation opportunity. Do not miss this opportunity because I think we are living a part of history, and the way we will manage projects very soon in the future will be very different from the way we used to manage in past years. Think about that. I hope you enjoyed this episode and see you next week with another 5 Minutes Podcast.
