​The report estimates the widespread adoption of generative AI could boost labor productivity growth by 1.55pp/ year in the US, leading to a significant increase in global output. However, the impact on labor demand is uncertain and may be harmful in the near term. The report brings data from the O*NET database on the task content of over 900 occupations in the US and the European ESCO database to estimate the share of total work exposed to labor-saving automation by AI occupation and industry. The reports estimate that US AI can automate nearly one-fourth of current work tasks, particularly with exposure to administrative and legal professions and low exposure to physically intensive professions. The report's conclusion states that generative AI can disrupt labor markets and spur global productivity in the coming decades. The ultimate effects will depend on how labor demand and occupational workloads evolve in response to partial labor savings in significant occupations.