US immigration

The US is experiencing its largest immigration wave in generations, driven by millions of people from around the world seeking personal safety and economic opportunity. Since the end of 2020, more than 9m have migrated to the US, according to estimates and projections from the Congressional Budget Office. Data from the Census Bureau and the Transactional Records Access Clearinghouse paints a picture of an overwhelmingly Spanish-speaking cohort that is younger, less-educated, and more available to work than the native US population. Of foreigners who arrived since 2020, 78pc are between the ages of 16 and 64, compared with 60pc of those born in the US, according to the monthly census data. However, while most recent immigrants are able to work, many aren’t ready for high-skilled jobs. The census data show that immigrants who arrived at the start of 2020 are more than twice as likely to lack a high school diploma as US-born workers.

(Adapted from “How Immigration Remade The US Labour Force,” by Paul Kiernan, published on September 4, 2024, by the Wall Street Journal)

AI-powered workforce

In one study of more than 200 MBA and Master in Management students aged 23-30 across five European and North American universities, researchers found that 40pc use gen AI multiple times a day. To learn more, the researchers conducted workshop sessions and in-depth interviews with a group of 30 graduate students. They discovered that these students are using gen AI in two ways: as an executor (helping with writing, summarising, coding, translating, and information retrieval) and as a thought partner (for brainstorming, problem solving, or challenging ideas). They both experiment with gen AI and also are aware of its limitations and risks. Most of these students will be back in the workforce within a year, and they’ll be entering an environment where only 15pc of leaders and managers consistently use gen AI in their daily work. The researchers argue that it’s on companies and leaders to adapt to the changing landscape.

(Adapted from “How The Next Generation Of Managers Is Using Gen AI,” by Gabriele Rosani and Elisa Farri, published by HBR Early Career)

Semiconducters and the pace of change

The chipmaking industry has always existed in a state of paranoid optimism. Ever since Gordon Moore’s observation that processing power would double roughly every two years was encoded by others into “Moore’s law”, a chorus of experts has been warning of its end. That dread is tinged with a fierce belief that there is always a way to stave off the inevitable. The results have been nothing short of spectacular. In the past 50 years, processors have come to operate tens of thousands of times faster, and store a million times more data in the same area. The cost of a transistor has also fallen by a factor of a billion, making technology a global deflationary force. They are also ubiquitous: semiconductors are now the third-most traded commodity in the world by value, after oil and cars and they are likely to continue their transformational role.

(Adapted from “The End Of Moore’s Law Will Not Slow The Pace Of Change,” by The Economist, published on September 16, 2024)

Transitioning roles

What you do before you start a leadership role is critical to your success in the first 90 days and beyond. It’s tempting to rely on what you know and what’s served you well before, but don’t do it. Keep these three traps in mind. 1) The lingering trap. Don’t take too long to taper out of your current role or company. This reduces the time you have to prepare for your new leadership position. 2) The adrenaline trap. You need to rest your mind and body to begin your next position from a place of strength. 3) The judgment trap. During the transition period, you may reflect on what you learned during the hiring process and start to research the prospects and problems facing your new organisation or team. Without realising it, you’ve already formed judgements about what to do in your new role. This can prevent you from heading in the wrong direction.

(Adapted from “4 Traps To Avoid As You Transition Into A Leadership Role,” by David Lancefield, published by HBR Early Career)

Published in Dawn, The Business and Finance Weekly, September 30th, 2024