While generative artificial intelligence is not yet making money in some areas, it has reportedly quickly proven its value in providing coding assistants.
An AI coding assistant that Microsoft-in possession GitHub Copilothas attracted nearly 2 million paying subscribers since its launch in 2022, contributing to a 45% year-on-year increase GitHubRevenue, the Financial Times reported Friday (23 August).
“When using GPT-3 OpenAIs first big model, we found out relatively quickly that it was so good at writing code that we could build a product on it,” said GitHub CEO Thomas Dohmke says the report.
Amazon, Meta And Google have also developed AI assistants for writing and editing code, according to the report.
Several startups also compete in this field, including Replicate, Anysphere, magic, Expand, Supermaven And AI at the pool. This Companies have raised $906 million since January 2023, including $433 million so far in 2024says the report.
McKinsey According to the report, the company said in 2023, AI could increase software development productivity by 20 to 45 percent.
The report says that coding copilots have delivered value and added value significantly faster. At least one company will stop hiring people to code without AI by the end of the year. Demand for coding skills will increase as the task becomes easier. And software developers have already integrated these assistants into their workflows as AI takes over repetitive tasks, giving them more time to be more creative.
“Software development without AI today is a bit like writing without a word processor,” Code.org Managing Director Hadi Partovi he said, according to the report.
Using generative AI solutions to streamline Software development Workflows can accelerate digital transformation, PYMNTS reported in November.
The benefits of having AI-generated code at hand cannot be overstated as many companies make system improvements in areas such as accounts payable and accounts receivable.
“Simply put, Generative AI can write your code for you”, Robert RogersCEO of Oii.aia supply chain AI company, PYMNTS said in an interview published in May. “Programming is a language, and generative AI honestly doesn’t mind going from English to Spanish to Python or JavaScript, and it’s fluent in all languages.”
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