Little did we know that beyond the automated factory machines, self-driving cars, and robocops, Artificial Intelligence (AI) would one day crash into our lives, authoring poems, tipping us with pickup lines, and passing the toughest examinations. The recent rise of Large Language Models and Generative AI has sparked more interest in the progress of AI across the globe. ChatGPT was running with its servers crammed for months, and Twitter feeds were filled with quirky ChatGPT quotes followed by threads shedding light on the versatile application of such chatbots. Ethical debates on the use of generative AI have subsided in the realisation that users will have a ‘productivity-powered’ upper hand over a non-user. The subjects of worker replacements and economic growth with the rise of AI have entered the spiral that the Internet once went through.
Positive effects of AI adoption
There is broad consensus on increasing productivity by adopting AI in producing goods and services. In a study called “Generative AI at Work” (involving over 5,000 customer support agents in the Philippines), Massachusetts Institute of Technology (MIT) economists showed that AI tools boosted worker productivity by 14% and improved consumer satisfaction, leading to better treatment of customer service agents and increased employee retention. Experts suggest that generative AI may not replace employees, but employees using generative AI will replace those who do not upskill.
