Top 25% of companies are growing their productivity by over 8% annually on average. Here's what can be learned from their strategies to boost growth in the age of AI.
If I asked you when a step change in productivity occurred in our history, what would you say? Chances are your mind might jump to the Model T assembly line of the 1900s, the rise of fast-food service in the 1950s, or, perhaps most likely, to the very item you are using to read this piece right now: the personal computer and smart phone revolutions of the 1990s and 2000s. While these are apt examples, what’s often overlooked is that behind all these innovations were likely to-do lists.
That strategy worked for a long time, but today’s conversations are shifting. Leaders now consider cost inputs as one part of a bigger equation. An increasingly important consideration is productivity growth, typically realized through a combination of cost efficiency and effectiveness , and in today’s age of rapid technology-led disruption, multiplied by generative AI.
Our analysis indicates that gen AI can impact more than 44% of working hours. Taking that a step further, we wanted to understand the two ways in which gen AI could impact tasks and quantify that in terms of financial performance. Ouridentified two types of impact: time saved at 12.5%, and quality improvements in the task output at 8.5%. While the former is important, the latter is where gen AI can significantly drive productivity growth and ultimately competitiveness.
These organizations invest in their workforce to ensure they’re prepared to use the technology to drive productivity gains. By integrating their teams into this process through training, they also build trust and transparency, both of which are critical when faced with change., for instance, tripled its digital maturity through targeted learning programs, equipping employees with future-ready skills while embedding innovation into its culture.
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