The public release of Large Language Models (LLMs) has sparked tremendous interest in how humans will use Artificial Intelligence (AI) to accomplish a variety of tasks.
Harvard Business School has recently published a Working Paper examining the performance implications of AI on realistic, complex, and knowledge-intensive tasks. The pre-registered experiment involved 758 consultants comprising about 7% of the individual contributor-level employees at the Boston Consulting Group
For each one of a set of 18 realistic consulting tasks within the frontier of AI capabilities, consultants using AI were significantly more productive (they completed 12.2% more tasks on average, and completed tasks 25.1% more quickly), and produced significantly higher quality results (more than 40% higher quality compared to a control group)
AI comes with huge potential but, yes, also with risks–there’s no denying that. However, is it an even greater risk not to use AI at all and stick to traditional methods? We definitely think so and we are not the only ones.
The working Paper highlights that AI can be used smartly and not so smartly. However, dismissing AI could mean falling behind in a rapidly evolving business landscape.
Source: Legal Design School
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