MIT Study Shows 50% Productivity gain due to AI

According to a recent MIT study, people are experiencing a 50% productivity gain due to AI. And this is just the beginning of AI’s exponential ascent.

Recent advances in generative artificial intelligence may have widespread implications for production and labor markets. New generative AI systems like ChatGPT or DALL-E, which can be prompted to create novel text or visual outputs from large amounts of training data, are qualitatively unlike most historical examples of automation technologies.

Previous waves of automation predominantly impacted “routine” tasks consisting of explicit sequences of steps that could be easily codified and programmed into a computer (Autor and Dorn, 2013; Autor, 2015). Creative, difficult-to-codify tasks (such as writing and image generation) largely avoided automation—a pattern that scholars noted might change with the advent of the deep learning techniques that now underpin generative AI systems

This paper takes the first step towards answering these questions.1 In an online experiment, we recruit 444 experienced, college-educated professionals and assign each to complete two occupation-specific, incentivized writing tasks. The occupations we draw on are marketers, grant writers, consultants, data analysts, human resource professionals, and managers. The tasks, which include writing press releases, short reports, analysis plans, and delicate emails, comprise 20-to 30-minute assignments designed to resemble real tasks performed in these occupations; indeed, most of our participants report completing similar tasks before and rate the assigned tasks as realistic representations of their everyday work. Read paper here

Overall, the use of AI in fashion design allows for greater creativity and efficiency in the design process. By using machine learning algorithms to generate new ideas and variations on existing designs, artists and fashion designers can quickly and easily create a range of options to choose from, saving time and resources in the process. Additionally, the use of AI can lead to the creation of unique and innovative designs that may not have been possible with traditional design methods.

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