Generative AI as a General-Purpose Technology: Foundations, Applications, and Labor Market Implications Through 2030

Generative Artificial Intelligence (AI) has transitioned from a research milestone to a general-purpose technology with wide-ranging implications for organizations, labor markets, and information systems. Thanks to improvements in deep learning, generative adversarial networks (GANs), variational autoencoders (VAEs), diffusion models, transformer-based language models, and reinforcement learning from human feedback (RLHF), generative AI can now create high-quality text, images, audio, code, and other types of content. This review synthesizes the core technical foundations and best practices for training, evaluation, and governance, with an emphasis on scalability and human oversight. The paper examines applications across customer service, marketing, software development, healthcare, finance, law, logistics, and the creative industries, and assesses the labor implications of generative AI using a sociotechnical lens. This study also develops a disruption index that integrates task exposure, adoption rates, time savings, and skill complementarity. The paper concludes with actionable recommendations for policymakers, organizations, and workers, emphasizing the importance of reskilling, algorithmic transparency, and inclusive innovation. Taken together, these contributions situate generative AI within broader debates about automation, augmentation, and the future of work.