AI training could transform Portugal’s workforce by 2030

Newswire

Lisbon: A recent study by McKinsey highlights that Portugal must retrain around 1.3 million workers, about 30% of its workforce, by 2030 to adopt generative AI and close its productivity gap with the rest of the European Union.

Portugal has long struggled with low productivity, which has contributed minimally to GDP growth compared to the EU average. However, the study predicts that by rapidly integrating AI and automation, the country could significantly boost productivity, matching projected EU levels.

Generative AI, which creates content like text and images based on past data, could help Portugal compete with more developed economies if the workforce is prepared for the technological shift. This change will also require the public, private, and education sectors to collaborate in reshaping job roles and work processes. For every euro invested in AI technology, McKinsey suggests that three euros will be needed for managing organisational transitions.

Besides upskilling 1.3 million workers, the study indicates that around 320,000 employees in roles like customer service will need to transition to new jobs. This large-scale transformation could position Portugal for stronger economic growth in the coming years.