The New Ai Techologies: How Large A Productivity Gain?

This article discusses the potential of new artificial intelligence technologies to increase productivity. It focuses on “foundation models” such as large language models, generative AI systems, and multi-modal systems. Evidence is accumulating about how these technologies will affect existing jobs, with the unifying theme being that they can save time. Examples of this are software engineers coding up to twice as fast with Codex, and many writing tasks being completed twice as fast. Additionally, economists can be 10-20% more productive using large language models.