Generative Artificial Intelligence (AI), the technology behind solutions with ChatGPT, has the potential to automate work activities that currently absorb 60% to 70% of workers' time, and generate between 2.6 and 4.4 billion dollars in annual productivity worldwide, according to the study "The economic potential of generative AI: The next productivity Frontier", points out the study "The economic potential of generative AI: The next productivity Frontier", of the Mckinsey & Company.
"Excluding generative AI, the use cases of artificial intelligence and analytics can generate between $11 billion and $17.7 billion in value annually for the global economy. Adding generative AI to these cases can increase this value by 15% to 40%," says Mckinsey.
McKinsey highlights the potential productivity gains the world economy could achieve by allowing all workers to use this technology: an annual increase of 0.1 percent to 0.6 percent through 2043, "offsetting declining job growth as populations age."
"Half of current work activities could be automated between 2030 and 2060," estimating that the midpoint (2045) comes "a decade earlier than previous estimates."
According to the consultant, the biggest impact of this technology is in activities such as customer operations, marketing and sales, software engineering and R&D. The area of operations with customers can have an increase in productivity between 30% to 45% of the current costs of the functions.
Despite the "immense potential for the global economy," caution is needed: "The language capabilities of generative AI also present risks, which can both improve human interactions and cause harm through misunderstandings, manipulation, and conflict."
(Source: Mckinsey & Company)
