In the 1980s, economist Robert Solow made an observation that reminded economists of today’s AI boom: “You can see the computer age everywhere but in the productivity statistics.”
No impact? Nothing? I mean, they shoud at least notice something, right?
A study published in February by the National Bureau of Economic Research found that among 6,000 CEOs, chief financial officers, and other executives from firms who responded to various business outlook surveys in the U.S., U.K., Germany, and Australia, the vast majority see little impact from AI on their operations. While about two-thirds of executives reported using AI, that usage amounted to only about 1.5 hours per week, and 25% of respondents reported not using AI in the workplace at all. Nearly 90% of firms said AI has had no impact on employment or productivity over the last three years, the research noted.
Well duh, that explains everything. Me getting paid for taking a dump 1.5h a week hasn’t had any impact on my productivity score either. My guess is those 1.5h were mostly used to ask questions you’d otherwise just look up yourself, which also doesn’t change much in terms of productivity.
Companies are built on deterministic, predictable processes and workflows. A stochastic tool which randomly hallucinates correlations as fact, absent of critical thought, introduces a huge amount of risk/uncertainty; especially regarding data security.
It’s not surprising most corporations aren’t seeing a productivity boost, because the product, tooling, and ecosystem are simply not at a level of maturity where they can be trusted with any core or critical tasks. When you add in the potential for significant future price increases, and other unknown impacts outside your control, choosing to voluntarily make your business dependent on some 3rd parties ever changing product sounds completely insane.
No impact? Nothing? I mean, they shoud at least notice something, right?
Well duh, that explains everything. Me getting paid for taking a dump 1.5h a week hasn’t had any impact on my productivity score either. My guess is those 1.5h were mostly used to ask questions you’d otherwise just look up yourself, which also doesn’t change much in terms of productivity.
It sounds like they were measuring chatbot use than a deeper integration into their systems. That may not me the best use of LLMs.
Companies are built on deterministic, predictable processes and workflows. A stochastic tool which randomly hallucinates correlations as fact, absent of critical thought, introduces a huge amount of risk/uncertainty; especially regarding data security.
It’s not surprising most corporations aren’t seeing a productivity boost, because the product, tooling, and ecosystem are simply not at a level of maturity where they can be trusted with any core or critical tasks. When you add in the potential for significant future price increases, and other unknown impacts outside your control, choosing to voluntarily make your business dependent on some 3rd parties ever changing product sounds completely insane.