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Gen Zs, Millennials optimistic about India’s economy and social situation: Deloitte survey | Business News

More than half of Generation Z and two-thirds of Millennials worldwide are optimistic about the country’s economic and social situation and expect further improvement, a Deloitte survey said on Wednesday.

Both generations are optimistic about GenAI and its potential benefits in improving the way they work: four in 10 are taking training, according to Deloitte’s 2024 Gen Z and Millennial Survey.

The survey also found that nine in 10 Gen Zs and Millennials say purpose is important to job satisfaction and are likely to reject work or employers that do not align with their ethics and beliefs.

The survey collects insights from more than 22,800 Gen Z and Millennial respondents from 44 countries and examines how Gen Zs and Millennials perceive the changes taking place in the world around them.

Fieldwork for the survey was completed between November 24, 2023 and February 13, 2024. Generation Z respondents were born between January 1995 and December 2005, and Millennial respondents were born between January 1983 and December 1994.

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According to the survey, Millennials are more optimistic about the overall economic, financial and social outlook compared to their global counterparts, and this sentiment is reinforced by India’s continued economic growth amid a global slowdown.

Two-thirds of Millennials (65 percent) and more than half of Generation Z (58 percent) expect the country’s economic outlook to improve next year. Compared to last year, the situation is significantly better, as more Gen Zs (62 percent) and Millennials (64 percent) are now confident about their financial situation.

According to the survey, both generations believe that GenAI will have a positive impact on their work-life balance and the way they work. More than half of Generation Z (51 percent) and Millennials (54 percent) use GenAI frequently at work and strongly believe it gives them more time for creative and strategic work.

However, they are equally convinced that they need to retrain and that GenAI will influence their career decisions and lead to job losses. The survey also shows that women are more optimistic about GenAI and slightly more comfortable with it at work than men.

“Millennials and Generation Z are the agents of change and are making a significant contribution to shaping the future of work.” “More than half of those surveyed are enthusiastic about GenAI and believe that this new technology will have a positive impact on their work-life balance will have an impact as she will have more time for creative and strategic work,” said Deepti Sagar, Chief People and Experience Officer, Deloitte India.

First uploaded on: 15-05-2024 at 12:41 IST

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