AI Revolution Reshapes Work and Home, Accelerates Faster Than Any Previous Technology

A new research by the Federal Reserve Bank of St. Louis, Vanderbilt University, and Harvard Kennedy School finds the true extent of AI filtration in our daily lives. The research found five key takeaways by surveying thousands of US workers to see how AI adoption is happening at work and at home.

The research found that generative AI has been adopted faster than any other new technology in the past. 39.4% of Americans between the ages of 18-64 have reported using ChatGPT. It’s been only two years since the release of ChatGPT and it has crossed 30% adoption rate while PCs took three years to hit 20% adoption rate. It is probably due to the cost difference between AI and PC. The adoption of AI at home isn’t that costly but PCs used to cost a large amount.

Another finding by the research showed that AI is being used by everyone and not just tech workers. It is most commonly being adopted in business, management and computer related fields and the usage rate has already surpassed 40%. As PC adoption resulted in workplace inequality, AI adoption is also increasing inequality at workplaces. 60% of workers with bachelor’s degrees are using AI as compared to 20% of workers without a degree. The researchers say that this could lead to inequalities in the labor market.

Artificial Intelligence is also saving a lot of time in a number of tasks. 57% of respondents are using AI for writing and 49% are using it for searching for information. AI is also saving employees time by summarizing their reports and generating new ideas. The research also talked about how AI can report user productivity but it is still in its early stages. Currently, 0.5% and 3.5% of all US work hours are being assisted by AI and they increase the labor productivity up to 0.125% and 0.875%. Researchers say that we cannot assume anything right now because AI is still in the early stages of its adoption and it will take some time for it to be completely adopted in workforces.

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