The importance of AI in the business world lies in its ability to perform essential tasks efficiently and promote accessibility to all, with notable economic impacts. AI demonstrates significant performance improvements ranging from 30% to 80% in various tasks such as coding, writing, and business activities. Notably, these improvements surpass historical advancements like the introduction of steam power in factories during the 1800s. Studies have shown that AI tools like chatbots can enhance productivity by reducing task completion times by over 30% while delivering higher-quality outcomes than those produced by humans.
Co-host Michael Chui talks with business professor Ethan Mollick. He is an associate professor at the Wharton School at the University of Pennsylvania. Mollick covers topics including the following:
- What is generative AI?
- How substantial are the performance improvements workers can gain from using generative AI
- How to use human management skills to get better results from generative AI
- What generative AI means for the future of work and trust
- What he learned when he made the use of generative AI mandatory in his classes
See www.mckinsey.com/privacy-policy for privacy information