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Generative AI Boost Can Boost Productivity Without Replacing Workers
Original article seen at: www.gsb.stanford.edu on December 14, 2023
tldr
- 📈 Generative AI tools can significantly boost productivity.
- 👥 The productivity gains are higher for less skilled and less experienced workers.
- 😊 The use of AI tools leads to happier customers and higher employee retention.
- 💡 Generative AI benefits employees, customers, and stockholders alike.
summary
A study by the National Bureau of Economic Research found that generative AI tools can significantly boost productivity without replacing workers. The study involved nearly 5,200 customer support agents at a Fortune 500 software firm who used a generative AI-based assistant. The AI tool provided real-time recommendations to the agents during customer support chats. The results showed that agents who used the AI tool were 14% more productive, on average, than those who didn't. The productivity gains were even higher for less skilled and less experienced workers, reaching up to 35%. The study also found that the AI tool led to happier customers and higher employee retention. The researchers concluded that generative AI was beneficial for the company's employees, customers, and stockholders alike.starlaneai's full analysis
The use of generative AI tools in customer support represents a significant advancement in the AI industry. The significant productivity gains and the positive impact on customer satisfaction and employee retention could lead to a wider adoption of such tools in various industries. However, there may be challenges in implementing these tools, such as the need for training and the potential resistance from employees. Furthermore, there may be ethical considerations that need to be addressed, such as the potential misuse of AI and the impact on jobs. Despite these challenges, the potential benefits of generative AI tools make them an attractive investment, which could lead to further advancements in AI research and development.
* All content on this page may be partially written by a clever AI so always double check facts, ratings and conclusions. Any opinions expressed in this analysis do not reflect the opinions of the starlane.ai team unless specifically stated as such.
starlaneai's Ratings & Analysis
Technical Advancement
70 The use of generative AI to boost productivity represents a significant technical advancement. The AI tool was able to provide real-time recommendations, which greatly improved the performance of the customer support agents.
Adoption Potential
80 Given the significant productivity gains and the positive impact on customer satisfaction and employee retention, the adoption potential of such AI tools is high.
Public Impact
75 The use of AI tools in customer support can have a significant public impact by improving the quality of customer service and increasing customer satisfaction.
Innovation/Novelty
60 While AI tools have been used in customer support before, the use of a generative AI tool that provides real-time recommendations is relatively novel.
Article Accessibility
85 The article is written in a clear and accessible manner, making the information comprehensible to a general audience.
Global Impact
65 The use of AI tools in customer support can have a global impact, as it can be applied in various industries worldwide.
Ethical Consideration
50 The article does not discuss any ethical considerations related to the use of AI in customer support.
Collaboration Potential
75 The study was a collaborative effort involving researchers from different institutions, indicating a high potential for collaboration in the development and application of AI tools.
Ripple Effect
70 The use of AI tools in customer support can have a ripple effect, potentially leading to their adoption in other areas of business and industry.
Investment Landscape
60 The significant productivity gains and positive impact on customer satisfaction and employee retention could make AI tools an attractive investment.