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- 🤖 AI improves employee productivity by 66%
Good morning and welcome to the latest edition of neonpulse!
The effectivity of AI has finally been quantified: employee productivity improves by 66% because of AI.
AI Improves Employee Productivity by 66%
The usability of AI platforms like ChatGPT for real business tasks has finally been quantified, and the results are impressive. Three separate studies conducted in different domains and with different types of users have all arrived at the same conclusions: the use of AI significantly improves productivity.
Speculative discussions about the greatness of AI are everywhere, but they often lack empirical data and are based on personal opinions. We need concrete evidence to assess the actual impact of AI on business use.
Let's take a closer look at the findings from each of the three studies:
Study 1 focused on customer service agents in an enterprise software company. With the help of AI, these agents were able to handle 13.8% more customer inquiries per hour compared to those without AI assistance.
Study 2 involved experienced business professionals, such as marketers and HR professionals, writing routine business documents. The use of AI resulted in a remarkable 59% increase in the number of business documents written per hour.
Study 3 examined programmers coding a small software project. Those who used AI tools were able to code 126% more projects per week compared to their counterparts who did not use AI assistance.
The productivity gains observed in all three studies were statistically significant and demonstrate the effectiveness of AI in improving task performance.
Now, let's put these productivity gains into perspective. On average, across the three studies, generative AI tools increased business users' throughput by 66% when performing realistic tasks.
To understand the significance of this number, we can compare it to average labor productivity growth in the United States and the European Union. Over a 12-year period before the COVID-19 pandemic, the average labor productivity growth in the United States was 1.4% per year, while in the European Union, it was 0.8% per year.
The 66% productivity gains from AI equate to 47 years of natural productivity gains in the United States and 88 years of growth in the European Union.
The findings from these studies support the notion of human-computer symbiosis. AI is not meant to replace humans; instead, it complements human capabilities. AI tools handle heavy lifting, such as manipulating large amounts of data, freeing up humans to focus on tasks that require creativity and insights.
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