The New Skills in Finance Report 2022
In a digital-transforming era, there is a widening skills gap for those who cannot adapt to the new digital world in finance.
CFTE and Elevandi published the report with the discussion with leading experts to help governments, organisations and individuals address the current skills gap in finance and build a digital-resilient workforce in the industry.
Key takeaways from "Early LLM-based Tools for Enterprise Information Workers Likely Provide Meaningful Boosts to Productivity" report published by Microsoft
CFTE summarised “Early LLM-based Tools for Enterprise Information Workers Likely Provide Meaningful Boosts to Productivity” report by Microsoft. This report presents the initial findings of Microsoft’s research initiative on “AI and Productivity”, which seeks to measure and accelerate the productivity gains created by LLM-powered productivity tools like Microsoft’s Copilot.
Key Aspects
- The focus is on measuring and accelerating productivity gains in common enterprise information worker tasks, where LLMs are most likely to provide significant value.
- It supports the hypothesis that the first versions of Copilot tools substantially increase productivity in these tasks, mainly as an increase in speed of execution without a significant decrease in quality
Table of Contents
- Introduction
- Findings on productivity (defined in three parts: speed, quality, and effort)
- Various studies and surveys that form the basis of these findings
Key Findings and Insights
This report will give you an insight into:
- Significant increase in the speed of performing tasks using LLM-based tools, with Copilot users completing tasks in 26% to 73% of the time compared to those not using Copilot. Surveys indicate that participants perceived substantial time savings, with estimates of time saved often exceeding the actual time saved.
- Quality of work using LLM-based tools was generally not compromised. In most studies, the quality achieved by participants using these tools was statistically indistinguishable from those not using them. However, there were a few exceptions where the increase in speed came with a slight decrease in quality.
- Regarding effort, the studies generally did not indicate any major long-term productivity impacts like burnout or exhaustion. Participants using Copilot typically found tasks to be less draining and reported reduced effort, especially on mundane or repetitive tasks
Key infographics
