Research shows that: ChatGPT & Co. billions of potential

class=”sc-29f61514-0 jbwksb”>

Text bots like ChatGPT or Bard, renderers like Stable Diffusion, and other generative artificial intelligence (GenAI) programs can provide significant additional productivity gains worldwide. This is the result of research published Wednesday in Düsseldorf by the McKinsey Global Institute (MGI), the economic think tank of management consulting firm McKinsey & Company.

Experts assume that GenAI technologies can deliver the equivalent of an annual increase in productivity of 2.4 to 4.1 trillion euros worldwide. This corresponds to the size of the gross domestic product of Great Britain.

Generative AI, where content such as text, images or video is automatically generated, will further increase productivity growth of other types of AI. Compared to previous forms of AI such as machine learning, McKinsey experts have calculated an additional 10 to 40 percent increase. “The real impact could be even higher if GenAI is integrated into the software, freeing up runtime for other tasks,” McKinsey said.

The study’s authors account for three-quarters of the productivity growth predicted through GenAI in customer service, marketing and sales, software development, and research and development. In these areas, productive AI can be used, for example, in interactions with customers. However, programs such as ChatGPT or DALL-E can also be used by employees to create content or write software code.

Therefore, sectors such as financial services, media or life sciences are the ones most affected by the changes. According to McKinsey calculations, the use of GenAI in the banking sector, for example, could create additional value of 185 to 315 billion euros per year. There is also an additional potential of 370 to 610 billion Euros per year in the retail and consumer goods sector.

In the study, the McKinsey Global Institute also predicts big changes in the business world. Complex, high-quality and high-paying areas are particularly affected. “Technology has the potential to automate work steps, freeing people from manual routine work, thereby creating new freedom for creative work and innovation.”

McKinsey envisions the biggest changes in apprenticeships because there is significant potential for automation here. With GenAI’s enhanced capabilities in natural language, for example, the job tasks of machines can be enhanced. In the first step, the AI ​​can only create an outline that teachers then edit. This can allow teachers to devote more time to other activities, such as leading classroom discussions or supervising students who need extra support. There is a particularly high potential for automation in the IT professions, followed by the creative professions. In contrast, jobs that require physical labor, such as construction workers, are hardly affected by GenAI.

(SDA)

Source :Blick