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U.S. Experiences Fastest Decrease in Worker Productivity Since WWII

Allwork

What’s going on: EY-Parthenon – a management consulting firm – analyzed Bureau of Labor Statistics data and uncovered that employee productivity dropped in the first quarter of 2023. When compared to last year, employee productivity dropped 2.7%. The drop in productivity has implications for the Federal Reserve and monetary policy.

2023 268
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New York’s Workforce Revolution: Generative AI to Propel Job Growth and Innovation

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New York is positioned to undergo a complete transformation in its labor market, with generative AI (gen AI) technology leading the way. A recent analysis published by Mckinsey & Company predicts that by 2030, the state could see as many as 1.1 percent. for successfully navigating the future of work.

Policies 223
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High On The Job: Record Number Of American Workers Use Marijuana At Work

Allwork

This significant increase underscores a concerning trend in workplace drug testing results, signaling the need for attention and potential policy adjustments. It may also prompt discussions and potential policy changes regarding marijuana regulation and workplace safety regulations.

2018 236
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Productivity boost from volunteering ‘adds £4.6 billion to UK economy each year’ 

Workplace Insight

Volunteering is delivering productivity gains worth billions to the UK economy each year, a new study claims. The report by Pro Bono Economics (PBE), commissioned by national volunteering charity Royal Voluntary Service, estimates productivity gains worth at least £4.6 The PBE report, titled?A This is mirrored in the new research.

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Rapid Adoption of GenAI Within the Workforce Creates Greater Needs for Regulation

Allwork

has grabbed the attention of world leaders and policy makers around the world — due to how the technology is expected to rapidly transform major industries and fundamentally alter job roles in the coming years. The technology, which encompasses self-learning algorithms capable of producing new content (i.e. images, reports, emails, etc.),

Policies 130
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AI may boost productivity, but we are already becoming reliant on it, and that’s a problem

Workplace Insight

The 2024 AI Index is the latest update to the annual analysis of trends in artificial intelligence. This year’s edition tracks research, development, technical performance, responsible practices, economics, policy, public opinion, and more. The report also highlights a trend noted last year: training models is getting expensive.

2023 59
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What Makes Good Customer Service?

Success

Who needs customer service training? They need training to answer them professionally. Adequate training is critical. But without the training—the tools—to help, interruptions may become more of a frustration. And train accordingly to respond independently to as many situations as possible.