In research conducted recently by Springworks, we found that 79% professionals said they were open to using AI for productivity. 23% of this populace was leaders. (Springworks Research)
In fact, 76.56% leaders who filled the survey fell in line with this belief.
In today’s fast-changing work environment, artificial intelligence (AI) is a key player in boosting productivity. As we move into 2024, using AI tools in our daily work isn’t just a new trend. Instead, it’s a must for companies looking to improve efficiency and stay ahead of the curve.
This blog brings you fresh research and expert analysis to explore AI’s transformative impact on work and productivity.
Dive in to discover latest insights, forecasts, and tools!
AI productivity: Facts and Stats
Let’s go back to the 79% survey participants who expressed openness towards AI.
Notably, a majority of these yay-sayers also felt lost when it came to knowing comprehensive AI tools to tackle productivity. (Springworks Report)
Sure, they knew a few tools. However, they found them unidimensional, addressing only single aspects of productivity and not the whole spectrum.
We are now in an era of SaaS sprawl, which means we’re already inundated with tech. Being spoilt for choice here can amount to a workday getting spoiled – that is unless we invest in tech that can replace multiple other tools.
Over 30% respondents said they used ChatGPT for work. 83% leaders who use it said it was useful but did not meet all their productivity needs. (Springworks Report)
Amidst growing interest and some uncertainty about AI and productivity, let’s delve into how AI is reshaping productivity. The following key insights and forecasts will underscore its vast potential and address the call for comprehensive tools.
- The World Economic Forum highlights AI’s potential to merge a company’s implicit knowledge with its structured data, enhancing the decision-making process and elevating performance standards. (World Economic Forum)
- Goldman Sachs forecasts that with extensive adoption, AI could elevate U.S. productivity growth by 1.5% annually over the next decade.(Source)
- McKinsey estimates generative AI might impact public sector productivity by $480 billion, with businesses potentially seeing a 6-10% revenue increase due to AI adoption. (McKinsey, 2023)
- Statista’s 2023 report predicts businesses embracing AI could see revenue boosts between 6% to 10%, underlining the tangible benefits of AI integration. (Source)
- Statista also projects the global AI market will reach over $1 trillion by 2028, growing at a 40% annual rate from 2023. (Source)
- A Gartner study reveals that 79% of corporate strategists believe AI technology will be paramount to their success in the upcoming two years, with up to 50% of strategic planning activities being automatable (currently at 15%). (Gartner, 2023)
- McKinsey (2023) predicts AI could automate 60-70% of current employee tasks by 2030, potentially affecting 30% of U.S. work hours. (McKinsey, 2023)
- PwC’s 2023 findings report that 73% of U.S. companies are already utilizing AI in some capacity within their operations, signaling widespread AI adoption across industries. (Source)
- PwC further emphasizes that Generative AI (GenAI) will not only redefine the work of employees but also of leaders, urging a comprehensive and strategic application of AI to maximize its benefits across organizational hierarchies. (PwC, 2023)
- Lastly, the importance of avoiding “the use-case trap” is stressed, suggesting that limited or isolated applications of GenAI offer only marginal benefits. Instead, leveraging GenAI’s ability to analyze unstructured data could significantly empower knowledge workers, enhancing capacity and decision-making across the board. (PwC, 2023)
AI Productivity Tools for an Efficient Workplace
It is clear that AI is not just an option but the pathway to enhanced productivity. Navigating this landscape requires the right AI products.
Check out this list of AI-powered tools specially curated for leaders:
Here’s a list of AI productivity mapped tools across various aspects related to productivity:
Chatbots and Content Creation
AI chatbots like ChatGPT, Claude 2, and Bing AI have mainstreamed AI in productivity, offering advanced reasoning, code writing, and calculation capabilities. Content creation tools such as Jasper and Copy.ai are revolutionizing how marketers generate copy, leveraging AI to produce high-converting content across various platforms.
Grammar Checkers and Rewording Tools
Tools like Grammarly, Wordtune, and ProWritingAid help refine writing by checking grammar and suggesting improvements, ensuring clarity and impact in communication.
Video Creation and Editing
Descript, Wondershare Filmora, Pollo AI and Runway are making video production more accessible and efficient, offering features like automated transcription and advanced editing capabilities.
Image Generation
AI tools for image generation, such as DALL·E 3, Midjourney, and Stable Diffusion, allow for the creation of unique visuals based on textual prompts, opening new avenues for creativity.
Voice and Music Generation
Tools like Murf, Splash Pro, and AIVA are exploring the frontiers of voice and music generation, enabling the creation of custom audio content with AI.
Task and Project Management
Asana, Any.do, and Trello, recognized as leading Jira alternatives, are integrating AI to streamline project management and task execution, enhancing team coordination and project tracking.
Transcription and Meeting Assistants
Fireflies, Airgram, and Krisp offer solutions to automate meeting transcription and enhance audio quality, saving time and improving meeting outcomes.
Click here to get a full-fledged list of AI tools to make your meetings better – or replace them entirely!
Scheduling and Email Management
Scheduling tools like Reclaim and Clockwise use AI to optimize calendar management, while email management tools such as SaneBox and Mailbutler help in organizing and prioritizing inbox content
Are you a leader or want to only know of AI tools that leaders can use? Download this list of AI-powered tools specially curated for leaders:
The Leaders’ AI A-Team
What is the AI productivity tool that leaders want?
The Springworks Productivity Research Survey asked participants to vote for a tool to boost their productivity, and they chose a product that would allow them to get a 360° overview across all their operations.
Clearly, the ideal tool was one that replaced others – that allowed for an overview without having to toggle between various teams, documents, and platforms.
This points towards a solution that has access to various knowledge centres of a company, and the intelligence to source relevant information.
Ideally, the same solution should also have the ability to concisely summarize content sourced from these centres.
How AI Tool Albus Gives 360° Visibility and Improves Productivity
Albus is an intelligent, AI-powered knowledge bot available on Slack/web, that integrates with key knowledge bases like Notion, Slack, Jira, and Google Drive.
By simply prompting Albus, you can get immediate, precise info in ChatGPT-style, bypassing routine HR queries.
How Albus gives 360° insights that professionals – especially leaders – want:
- Centrally connected – Albus is connected to all important knowledge sources that can be chosen and customized by the user
- Central database – Albus can cherry pick relevant information from varied sources and bring them to you in one place, eschewing the need for you to constantly switch between sources
- Time saver – Albus answers queries within seconds, thereby saving precious & productive working time
Albus embodies the anatomy of the ideal AI-tool for productivity –
Do you want to save 10+ hours in a week and maximize productivity? Try out Albus for yourself.
