MIT Study: 40% higher quality results for workers using AI

Read time: 2.5 minutes

Welcome back, superhuman

The mountain of evidence establishing AI’s effectiveness at work keeps piling up, as a new study from Harvard and MIT researchers finds significant productivity gains from using AI at work.

TODAY’S MENU

• Insight: Study finds workers using AI up to 40% more productive

• Graphic: AI adoption by industry

• 5 AI tools to supercharge your productivity

• AI In Business: Building the right AI strategy for your business

• Images: AI-Generated Apple Products

TODAY IN AI & TECH

• Flying Taxis: Electric aircraft maker Joby to set up factory in Ohio.

• Back To School: More teachers than students report using AI.

• Strong Signals: iPhone maker Foxconn aims to double jobs and investment in India.

• Big Bucks: Marketing firm Klaviyo aims for $9 Billion IPO.

• Crime and Punishment: TikTok fined $367 million for breaching privacy laws.

INSIGHT

Study: Workers who use AI produced 40% higher quality results than those who didn’t

Source: Ethan Mollick

According to a new study conducted by social scientists from some of the biggest universities in the world, test subjects who used ChatGPT to perform 18 different work tasks significantly outperformed their peers who didn’t.

Key findings from the study:

• The study was conducted in collaboration with Boston Consulting Group and analyzed 100s of consultants across 18 different work tasks.

• Those using AI finished 12.2% more work tasks.

• They also completed tasks 25.1% faster.

• Those who used AI also produced 40% higher quality results than those who didn’t.

• Consultants with the lowest scores at the start of the study saw the biggest jump in performance when allowed to use AI.

Researchers who conducted the study included social scientists from Harvard, MIT, and Warwick University, as well as researchers from BCG. The test took hundreds of consultants and randomized whether they were allowed to use AI. The consultants with permission to use AI were given access to GPT-4.

Source

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GRAPHIC

Number of AI startups, by country

Source

5 AI Tools to Supercharge Your Producty

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AI IN BUSINESS

How to build the right AI strategy for your business

As AI becomes a competitive advantage, a growing number of companies are looking to adopt the technology. In fact, Goldman Sachs predicts that AI investment could reach $200 billion by 2025.

But how do you pick the right AI strategy? According to a new article in VentureBeat, here are some things you need to keep in mind:

Fast and easy use cases out of the gate

Gen AI can provide straightforward implementation with its batch-oriented content creation (e.g. job descriptions) and real-time applications such as chatbots and knowledge searches.

Security and responsibility in Gen AI

To ensure security and responsible use, real-time generative AI requires strict safety, industry-specific models, ethical norms, extensive testing, and human oversight.

Scaling beyond the low-hanging fruit 

Due to high computing needs, scaling AI models is expensive. But the investment can be justified if there is a business case to increase revenue through scaling AI operations.

The real ROI of Generative AI

Rather than only delivering cost reductions, Gen AI can be used to improve productivity and customer satisfaction by providing fast, fluid interactions and transforming transactions into engaging experiences.

Source

AI-GENERATED IMAGES

AI-Generated Apple Products

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Thanks for reading.

Until next time!

Zain

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