A recent survey conducted revealed that over 50% of the businesses surveyed are utilizing ChatGPT and other artificial intelligence (AI) tools, with half of them replacing worker tasks with generative AI. Among the main applications of AI in this context is the writing of job descriptions and worker resumes. The utilization of AI is more prevalent among younger professionals and is linked to a more cautious economy where companies are scaling back on staffing in areas such as recruitment.
The survey, which gathered 1,000 responses from a network of business leaders, found that 50% of them reported using ChatGPT and 30% have plans to adopt it in the future. However, it is believed that the actual number of professionals using generative AI may be even higher as the survey only provides a snapshot of a moment in time.
The survey revealed that the age of the respondents and the state of the economy had an impact on the results, with 85% of the respondents under 44 years of age, and younger workers being more likely to embrace new technologies. Companies are also using ChatGPT to accelerate coding tasks, and the time and money saved can be utilized for retraining and hiring. It is even suggested that using generative AI for writing tasks can free up resources for more strategic areas of the company, with half of the firms implementing AI reporting savings of $50,000, and 10% reporting savings of $100,000.
In summary, the survey conducted demonstrates a significant trend in the adoption of AI tools in the business world. Companies are leveraging the power of generative AI to reduce costs, speed up repetitive tasks, and allocate resources to more strategic areas. As technology continues to advance, it is likely that more companies will follow suit and integrate AI tools into their operations.
Google’s Bard has recently entered the generative artificial intelligence field, alongside Microsoft’s Bing chat and OpenAI’s ChatGPT. The number of business leaders currently using AI technology in their day-to-day operations or planning to do so, however, remains uncertain. It is noted that high adoption rates are linked to the post-pandemic job market, as companies that expanded during the pandemic are now turning to automation to adjust to the new economy. ChatGPT is replacing jobs in HR departments, such as writing job descriptions or responding to applicants, while also making an impact in coding. By using generative AI to speed up coding tasks, companies can save time and money towards retraining and hiring.
It is explained that if companies can generate code well enough to reduce labor costs, they can use their code budget to pay developers or retrain code writers to fill necessary job positions. Finding senior developers remains a challenge, and generative AI skills, particularly prompt engineering, are in high demand by businesses looking to hire developers. Many hiring firms are now using generative AI to find and hire qualified candidates, with 63% of respondents stating that candidates with ChatGPT skills were more qualified.