Across multiple sectors, a number of studies point towards AI's potential to free up time, particularly for software developers.
Awareness and adoption of generative AI is skyrocketing. Since ChatGPT launched in November 2022, recent research has found that 52 per cent of UK office workers have entered work information into a generative AI tool, and 38 per cent say they’ve shared data they wouldn't casually reveal to a friend in a pub.
That’s according to figures from CybSafe, a behavioural science and data analytics company. McKinsey’s recent The state of AI in 2023 report also found that 79 per cent of respondents say they’ve had at least some exposure to gen AI, and 22 per cent say they are regularly using it in their own work.
When it comes to business, generative AI is now commonplace. Sixty per cent of organisations with reported AI adoption are using gen AI, and 40 per cent of companies expect to invest more in AI overall, thanks to generative AI.
But there are risks. “Generative AI has enormously reduced the barriers to entry for cyber criminals trying to take advantage of businesses,” says Dr Jason Nurse, CybSafe’s director of science and research.
And another new piece of research from Purdue University found that Chat GPT’s accuracy, conciseness, and consistency are in question, with the study finding that 52 per cent of Chat GPT’s answers are incorrect, and 77 per cent are verbose.
Despite this, users like generative AI because of the productivity benefits, with 69 per cent of UK respondents to CybSafe’s survey saying the benefits outweigh the security risks.
There is yet more to weigh up, as another McKinsey report on the future of work says that jobs across multiple sectors could benefit from getting up to 30 per cent of their time back thanks to use of generative AI.
Among those who could be impacted are computer engineers, business and financial specialists, and account managers. McKinsey’s report authors say that “...we see generative AI enhancing the way STEM, creative, and business and legal professionals work rather than eliminating a significant number of jobs outright.”
For example, one study found that software developers using Microsoft’s GitHub Copilot (an AI pair programmer that helps users write code faster and with less work) completed tasks 56 per cent faster than those not using the tool.
Now is the time to upskill and develop ways of working with generative AI tools to deliver business success. In fact, McKinsey says that generative AI has the potential to generate $2.6 trn to $4.4 trn in value across industries.
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