Has GPT-4 stood out as the new springboard for true enterprise excellence?
That’s an oft-asked question in 2023, given the advent of GPT-4 and how an enterprise can now leverage AI; be it through enhanced understanding via NLP, the near-infinite generation capabilities, routine task automations, data analysis, customer service, and even ways to reduce operational costs and improve decision-making capabilities for a massive range of use cases.
Worded casually, it feels like almost everyone’s dabbling in generative AI, these days.
As fate has it, Harvard agrees.
According to a new Harvard-led study, using generative AI was able to help hundreds of consultants that work for global management consulting firm Boston Consulting Group (BCG). The study, entitled “Navigating the Jagged Technological Frontier: Field Experimental Evidence of the Effects of AI on Knowledge Worker Productivity and Quality,” detailed how Harvard collaborated with BCG, advising them on the design, development, and execution of two pre-registered (yet randomized) experiments to “assess the impact of AI on high human capital professionals.”
The study was structured in three phases:
And the results?
The long-story-short of it is that this generation of LLMs proved to be “highly capable of causing significant increases in quality and productivity, even complete automation for some tasks.” These takeaways might seem obvious (if you’ve been keeping up with the rate at which organizations are deploying AI and how effective it has been), but to have Harvard and BCG take part in this grants supplemental confidence for generative AI’s expanding use cases for enterprises in the foreseeable future.
“The fact that we could boost the performance of these highly paid and highly skilled consultants – those from top, elite MBA institutions – doing tasks that are very related to their everyday work, on average 40%, I would say that’s really impressive,” stated Harvard’s Fabrizio Dell’Acqua, the paper’s lead author.
The full study is available for download here.
Also, be part of the ongoing discussions about the latest trends and developments in this space at Generative AI Expo, taking place February 13-15, 2024, in Fort Lauderdale, Florida. Generative AI Expo, part of the #TECHSUPERSHOW, will dive into the evolution of GenAI and will feature conversations focused on the potential for GenAI across industries and how the technology is already being used to create new opportunities for businesses to improve operations, enhance customer experiences, and create new growth opportunities.
Future of Work Contributor
Intelligent Workflows helps machine learning (ML) engineers proactively rectify errors and ensure the reliability and robustness of AI model performan…
Amazon Web Services, Inc. (AWS) recently launched Amazon Q, a generative-AI powered assistant that is specifically tailored for business operations.
Lacework announced a generative AI assistant that gives enterprise customers a new way to engage with the Lacework platform by providing customized co…
Voicify integrated with Chowly, an all-in-one digital ordering platform, to make its technology available to any of Chowly's customers.
Verta launched the Verta GenAI Workbench, an all-in-one platform to accelerate the GenAI builder's journey from idea to product.