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Aloha,

I have a HOT off-the-press alert for you 🔥 The AI Index Report 2024 by Stanford has just landed, and it’s packed with golden nuggets you won’t want to miss! 🚀

It’s a must-read for all knowledge workers. Why?

To gain in-depth, data-driven insights on the future of AI and its impact on how we live & work. Let’s dive in!

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What’s the secret to staying ahead of the curve in the world of AI? Information. Luckily, you can join early adopters reading The Rundown– the free newsletter that makes you smarter on AI with just a 5-minute read per day.

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💡 2024 AI Index Report: 10 Top Takeaways

The 2024 AI Index Report by Stanford offers critical insights into the economic implications of AI, its effects on the labor market, and corporate engagement. I'm still in the process of reviewing the hundreds of pages, but here are my initial top takeaways for you:

1. AI Adoption in Organizations (55% in 2023): The McKinsey report disclosed that 55% of organizations used AI in at least one business unit or function in 2023, up from 50% in 2022.
   

2. AI Productivity Enhancement (26% to 73% Faster Task Completion): AI tools such as Microsoft Copilot have enabled users to complete tasks 26% to 73% faster than those without AI access, highlighting substantial improvements in work efficiency.
   

3. GPT-4 Enhances Productivity in Consulting (Up to 40% Quality Improvement): Access to GPT-4 in consulting showed an increase in productivity by 12.2%, speed by 25.1%, and quality by 40.0%, compared to a control group without AI.
   

4. Cost Reduction by 42%: A McKinsey survey revealed that 42% of organizations report cost reductions from implementing AI.
   

5. Revenue Increase from AI by 59%: A McKinsey survey also showed that 59% revenue increase from implementing AI,
   

6. Global Productivity Growth Projection by AI: A 2023 investment report by Goldman Sachs forecasts that AI could catalyze productivity growth worldwide, ranging between 1.0% and 1.5% over ten-year periods.
   

7. Job Postings Demanding AI Skills (US Leading): The United States (1.6%) led in the percentage of job postings requiring AI skills in 2023, evidencing a significant demand for AI expertise in the labor market.
   

8. AI Labor Demand in the US (1.6% of All Job Postings): AI-related job postings accounted for 1.6% of all job postings in the United States in 2023, marking a decrease from 2.0% in 2022.
   

9. Generative AI Skills Surge (15,410 Job Postings): There was a significant increase in the number of U.S. job postings specifically citing generative AI skills in 2023, totaling 15,410 positions.
   

10. Fortune 500 AI Discussions (80% Mention Rate in 2023): AI was mentioned in 394 earnings calls in 2023, corresponding to nearly 80% of all Fortune 500 companies, with the most frequently discussed theme being generative AI (19.7% of all earnings calls).

🧠 Learn from our friends at foHRsight

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🔥 AI-Mentor Update: Revenue is up

We are super happy to see that more and more free users of AI-Mentor have started to notice the value our platform brings to them. It’s clearly reflected in our revenue this month 😄.

If you want to learn more about how you or your clients can benefit from it, take a look at these slides.

That’s all for today 🙂 Sending good, AI-vibes your way!

Cheers,

Iwo