Can Generative AI Improve Efficiency & Productivity? 

The short answer is absolutely yes! Let’s talk about it.  For all the fears of Generative AI taking over our lives and making the American workforce obsolete, artificial intelligence seems to have made most of us more productive and efficient. While it is true that AI is changing the way we work, it is generally a good feature that adds value to an organization and helps a workforce make the most of their time.  In recent studies, both Harvard Business School and MIT’s Sloan School of Management report that Generative AI can boost the performance of highly skilled employees by as much as 40%. This finding alone should be enough for businesses of all sizes to incorporate Generative AI into their daily operations.  With the proper training and guidance, AI can be a powerful tool for organizations hoping to improve their productivity and efficiency. Here are some concrete examples of how Generative AI is transforming workplaces in multiple fields and industries across our nation. 

What the Numbers Say About AI Use

According to a McKinsey Global Survey in May 2024, 72% of organizations have adopted AI in professional, commercial and industrial offices, which is a jump from previous years. However, a March 2024 U.S. Census Bureau report found that only 5.4% of businesses use AI to produce goods or services. These numbers indicate that while there has been a meteoric rise in AI in the workplace, many businesses are hesitant to fully embrace its use in all areas. It is possible that this is due, in part, to not understanding how AI can be used properly. 

Impacts on Productivity & Efficiency

Despite some organizations' hesitancy to adopt Generative AI, there are positive signs that it could very well increase your business's productivity and efficiency on many fronts.  One of the biggest advantages of using AI in the workplace is to automate repetitive and time-consuming tasks such as data entry, invoicing and scheduling. Automating these processes through virtual assistants can save time and money for those on the front lines at work. The ability to process vast amounts of data is one of the strongest assets of Generative AI and should be used across industries to take mundane tasks away from highly skilled workers.  Specific areas where productivity and efficiency can improve using this technology include customer service, software development, content creation and management, and streamlining decision-making, to name just a few. 

Improves Customer Service 

AI tools can enhance a customer’s experience by taking some of the workload on front-facing employees allowing them to focus more on customer relations. By simplifying complex workflows, AI enables team members to give more quality time to patients, customers and vendors.  According to CIO Online, “Researchers from Stanford and MIT collaborated on a study, released last April, based on data from over 5,000 customer support agents. With the use of gen AI, the agents were, on average, able to resolve 14% more issues per hour. But the biggest benefit was to new and lower-skilled workers, who saw a 34% improvement.”

Assists in Software Development 

If your industry utilizes software developers or makes use of a dedicated IT department, AI can be used as a productivity enhancer, especially for tasks where repetitive code is used.  The improvement in productivity and time savings for software developers is astounding. Overall, there was a 38% reduction in task completion time with gen AI, with the biggest gains seen by senior engineers. 

Aid in Content Creation 

For businesses that rely on the written word, whether it is in the form of emails, PR announcements, blog creation, or marketing materials, AI can be extremely helpful in starting content, researching ideas and brainstorming content needs.  Overall, 58% of creative professionals report that they find they can produce high-quality content using ideas generated through AI tools. 

Streamlines Decision-making 

AI tools can take large amounts of data and give insights as to what is working for an organization and what is not. This information can help C-level professionals make key decisions regarding where budgets should be focused and make smart decisions for the benefit of the organization and its employees.  Need more information on how Generative AI can be used in your organization? Talk to our team and gain valuable insight on how AI can help your workforce become more efficient and productive.