November 21, 2023 A new survey conducted by Retool, a development platform for business software, reveals a nuanced perspective on artificial intelligence (AI) within the tech industry. Despite the rapid growth and significant investments in the AI sector, highlighted by tools like ChatGPT gaining widespread popularity, over 51.6% of tech industry workers view AI as overrated. This sentiment contrasts with the 23% who believe AI is rated fairly and the 25% who see it as underrated.
The survey, which included over 1,500 participants ranging from software engineers to business leaders and designers, delves into the perceptions of AI among those who are at the forefront of its development and implementation.
There is a clear division between upper management and non-executive employees. Management, viewing AI as a cost-cutting tool potentially replacing workers, generally have a more favorable view of AI, whereas those who directly engage with AI in their roles are more inclined to see it as overrated.
This skepticism among tech workers largely stems from concerns over the accuracy of AI responses, data security issues, instances of AI “hallucinations,” and the costs associated with developing AI applications. Despite these concerns, only 14.4% of respondents felt their employers were overinvesting in AI technology, suggesting a recognition of AI’s importance and potential in reshaping the workplace, even if they don’t regard it as revolutionary at present.
Furthermore, the survey found that a significant 77.1% of participants reported that their companies are making efforts to integrate AI into their operations. The majority of respondents anticipate that AI will bring about moderate to significant changes in their jobs and industry within the next five years.
David Hsu, CEO and founder of Retool, emphasized the importance of understanding practical AI use cases, especially in business contexts. He noted, “While AI isn’t replacing most technical jobs, it’s reshaping them – and people are latching onto technologies that help them accelerate and strengthen their work.”
Sources include: TechSpot
