The Federal Reserve just released updated data on generative AI adoption showing the technology is delivering measurable productivity benefits across the U.S economy.
Data shows that 54.6% of American workers are using generative AI right now. That's actually wild when you think about it, we’re three years past ChatGPT and we’re talking about mainstream adoption across more than half the workforce. PCs and the early internet didn’t hit that level anywhere near this fast. Most people sleeping on AI adoption aren’t really grasping how completely this has penetrated the economy in such a short window.Workers report that AI saves them roughly 1.6% of their work time. Run that through productivity models and it suggests AI has added about 1.3% to aggregate labor productivity since ChatGPT launched. For context, pre pandemic productivity growth was 1.43% annually. A single technology just added half that annual growth rate in under three years.The industry breakdown makes this even more interesting. The Fed found that industries with just a 1 percentage point increase in AI driven time savings are seeing 2.7 percentage points higher productivity growth relative to their historical trend. Information, Finance and Transportation are clustering in the upper-right, high adoption, strong gains. Arts, Entertainment and Other Services are stalling out in the lower left.Do you agree with what the Fed is showing? How accurate do you think this study is? And are you actually seeing this shift in your own field?Source: StockMarket.News
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments