The future of work rests in the hands of millennials and Gen Z. In the latest edition of its Gen Z and Millennial Survey, Deloitte collected data from over 22,800 Gen Z and millennial respondents across 44 countries in order to understand how they feel about work and their context. Here are the key insights:
- AI seen as offering short-term gain and long-term job losses: About a quarter of Gen Z and millennials use generative AI (gen AI) at work frequently or all of the time, the report found. The vast majority of these users believe gen AI will give them more free time and improve the way they work. However, the same group is more likely to believe that gen AI will lead to job loss. While 59% of Gen Z and millennials overall believe gen AI will create job loss, 71% of gen-AI frequent users believe it will lead to job loss.
- Higher education is not the be-all and end-all: A third of respondents said they have decided not to pursue higher education. A quarter of Gen Z said this was due to financial reasons, and 40% of millennials said the same. About a quarter of Gen Zers and 18% of millennials said they were pursuing careers that that don’t require a college degree.
- Environmental sustainability is the top priority: About 60% of respondents said they have felt anxious about climate change, a two point increase from last year. About 50% say they are putting pressure on their employers to do something about climate change, while about 40% said they have already or will change their job due to their concerns about the environment.
“There is uncertainty about how Generative AI (GenAI) could impact work and their own careers,” the report’s authors wrote. “And they believe business is still falling short of its potential to address some of the world’s most critical societal challenges from protecting the environment, to social inequality.”