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

On 30 November 2022, ChatGPT 3.5 launched, marking a significant milestone in AI development. One year on, its meteoric rise and adoption across various sectors have been nothing short of remarkable.

By Maryrose Lyons, Founder of the AI Institute. 

Pictured: Maryrose Lyons, Founder the AI Institute

A fascinating study conducted jointly by Harvard and Wharton on Boston Consulting Group’s employees has provided critical insights into ChatGPT’s efficiency. Published in September, the study split employees into two groups: one using ChatGPT and the other not. The findings were compelling. Those using ChatGPT worked 25% faster, and produced 40% better quality output, and notably, the underperformers registered the most significant improvements.

Other recent data from Retool Inc. highlights a crucial aspect of AI adoption in the corporate world. While 77% of companies have initiated AI integration, the majority are still navigating the initial stages. A key factor behind this gradual adoption is the lack of clarity on AI’s practical applications. 

Recent developments at OpenAI, including the unexpected dismissal of its popular CEO Sam Altman, has stirred discussions in the tech community about leadership, corporate governance, and the future direction of AI development. Such internal upheavals serve as a reminder of the many complexities and rapid changes inherent in the AI industry that are bringing about seismic shifts.

The pace of change in this space is rapid. And no one fully knows how far it’s all going. But one thing is certain: AI is here to stay. It’s an exciting time for innovation, and with it, immense possibility, setting the stage for a future where AI is an integral part of every business strategy.

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