Published on October 24, 2023, 6:54 pm
Efficiency has become a top priority in the midst of economic and technological changes. While the AI boom is undeniable, many companies have yet to explore or implement AI technologies in the real world. This is true for companies outside of Big Tech and industry giants. However, Generative AI technology presents numerous opportunities for software companies, high-tech firms, ISVs, and DNBs to meet efficiency demands and streamline workflows.
A recent research study conducted by SoftServe titled “Generative AI: Redefining the Economics of Software Development” highlights the productivity gains that can be achieved using Open AI’s Generative AI. The study reveals that development teams across the software development life cycle (SDLC) can experience up to a 45% increase in productivity by incorporating Generative AI.
To test this hypothesis, SoftServe, a global IT consulting and digital services provider, conducted internal research involving over 1,000 associates across seven countries with varying specialties, roles, technologies used, and levels of experience. The participants were divided into groups based on their specialization and role within the organization. Half of the groups worked with GPT models 3.5 and 4 while the other half, known as the controlled group, did not use any integrated Generative AI solutions.
After conducting almost 1,500 experiments, SoftServe observed a significant improvement in software development outputs among the groups using Generative AI. Productivity increased by 45%, integration reduced task completion time by 31%, and several other productivity boosts were recorded when utilizing Generative AI technology.
The applications of Generative AI are vast and span various aspects of software development including code generation, automation, bug detection, documentation management, resource allocation, and automated testing. It is evident that AI-powered solutions have enormous potential to transform how software is developed. The question remains: when will these advancements be applied to more workflows beyond the SDLC?
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Generative AI is undoubtedly reshaping software development processes and increasing efficiency across the SDLC. With further advancements and wider implementation of Generative AI technology, we can expect continued improvements in productivity and creativity within the software development industry. As companies adapt to meet changing economic and technological landscapes, embracing AI-powered solutions will become pivotal in staying ahead of the curve.