A study from the National Bureau of Economic Research reveals that AI chatbots, despite rapid adoption, yield only minor productivity gains, saving roughly 2.8% of work time on average. The adoption of generative AI has been unprecedented, with tools like ChatGPT achieving 100 million users in just two months. However, the study shows that these efficiency gains do not translate into significant wage increases and vary in effect among users. While 64% to 90% of users report time savings, the overall lack of substantial economic benefits raises questions about the true impact of AI on labor markets.
AI chatbots do not markedly improve productivity or efficiency in organizations, with a study finding only 2.8% of work hours saved on average.
Despite heavy investment, AI chatbots produce modest impacts on wages and productivity, showing only a 3% to 7% improvement in earnings.
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