The significant impact of ChatGPT on professional business performance

AI for Everyone is a four part series exploring the development of AI and the impact it is having on business.

By Maryrose Lyons, Founder of the AI Institute. 

Recent research, including a large-scale trial by Boston Consulting Group in Q3 2023, highlights the significant impact of ChatGPT on professional business performance. In this study, consultants using ChatGPT4 showed a 12.2% increase in task completion, a 25.1% improvement in speed, and a 40% enhancement in task quality compared to their counterparts without the tool. Notably, those consultants who initially performed at lower levels experienced the most dramatic improvement – a 43% increase in performance when they began using AI. This pattern of enhanced performance with AI assistance is a consistent finding across various studies.

The Stanford Study (Noy & Zhang) examined the productivity effects of ChatGPT on professional writing tasks and found that the time taken to complete the tasks reduced by up to 70%, with better quality output than if ChatGPT hadn’t been used.

In addition, people using ChatGPT were happier in their work.

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