{"id":33705,"date":"2023-10-22T03:00:00","date_gmt":"2023-10-22T10:00:00","guid":{"rendered":"https:\/\/insidebigdata.com\/?p=33705"},"modified":"2023-10-18T13:42:36","modified_gmt":"2023-10-18T20:42:36","slug":"generative-ai-redefining-the-economics-of-software-development","status":"publish","type":"post","link":"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/","title":{"rendered":"Generative AI: Redefining the Economics of Software Development"},"content":{"rendered":"
\n
\"\"<\/figure><\/div>\n\n\n

Efficiency is scaling the list of high priorities amid growing economic and technologic changes. We know the AI boom is happening, but few companies are seeing \u2013 or doing \u2013 any real-world application of AI technologies. (Other than Big Tech and industry giants, of course.)<\/p>\n\n\n\n

Generative AI technology offers a wide range of vertical use cases for software companies, high-tech firms, ISVs, and DNBs to meet efficiency demands and expedite workflows. In fact, a new research study, “Generative AI: Redefining the Economics of Software Development<\/a>,” from our friends at SoftServe shows Open AI\u2019s Generative AI can increase productivity for development teams across the SDLC (software development life cycle) by up to 45%.<\/p>\n\n\n\n

To test the hypothesis that Gen AI is a time-saver and avenue for creativity and efficiency, SoftServe, a global IT consulting and digital services provider, conducted internal research with more than 1,000 associates across seven countries, multiple disciplines, experiences, and responsibilities. Participants were divided into groups categorized by specialization, role, technology, and level; half worked with GPT models 3.5 and 4, while the other controlled group worked without any integrated Gen AI solutions.<\/p>\n\n\n\n

Nearly 1,500 experiments later, software development outputs jumped by 45%, integration reduced the time to complete tasks by 31%, and several more productivity increases were recorded<\/a> by the groups using Gen AI. From code generation and automation to bug detection, documentation, resource allocation, and automated testing, it\u2019s clear AI-powered solutions can \u2013 and will \u2013 transform the way software is developed. The question is: when will this be applied to more workflows beyond the SDLC?<\/p>\n\n\n\n

Sign up for the free insideBIGDATA newsletter<\/a>.<\/em><\/p>\n\n\n\n

Join us on Twitter: https:\/\/twitter.com\/InsideBigData1<\/a><\/em><\/p>\n\n\n\n

Join us on LinkedIn: https:\/\/www.linkedin.com\/company\/insidebigdata\/<\/a><\/em><\/p>\n\n\n\n

Join us on Facebook: https:\/\/www.facebook.com\/insideBIGDATANOW<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Generative AI technology offers a wide range of vertical use cases for software companies, high-tech firms, ISVs, and DNBs to meet efficiency demands and expedite workflows. In fact, a new research study, “Generative AI: Redefining the Economics of Software Development,” from our friends at SoftServe shows\u00a0Open AI\u2019s Generative AI can increase productivity for development teams across the SDLC (software development life cycle) by up to 45%.<\/p>\n","protected":false},"author":10513,"featured_media":33232,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[526,115,182,180,67,268,56,84,1],"tags":[437,324,1393,96],"acf":[],"yoast_head":"\nGenerative AI: Redefining the Economics of Software Development - insideBIGDATA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Generative AI: Redefining the Economics of Software Development - insideBIGDATA\" \/>\n<meta property=\"og:description\" content=\"Generative AI technology offers a wide range of vertical use cases for software companies, high-tech firms, ISVs, and DNBs to meet efficiency demands and expedite workflows. In fact, a new research study, "Generative AI: Redefining the Economics of Software Development," from our friends at SoftServe shows\u00a0Open AI\u2019s Generative AI can increase productivity for development teams across the SDLC (software development life cycle) by up to 45%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/\" \/>\n<meta property=\"og:site_name\" content=\"insideBIGDATA\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/insidebigdata\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-22T10:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-18T20:42:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebigdata.com\/wp-content\/uploads\/2023\/08\/Generative_AI_shutterstock_2273007347_special.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editorial Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@insideBigData\" \/>\n<meta name=\"twitter:site\" content=\"@insideBigData\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editorial Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/\",\"url\":\"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/\",\"name\":\"Generative AI: Redefining the Economics of Software Development - insideBIGDATA\",\"isPartOf\":{\"@id\":\"https:\/\/insidebigdata.com\/#website\"},\"datePublished\":\"2023-10-22T10:00:00+00:00\",\"dateModified\":\"2023-10-18T20:42:36+00:00\",\"author\":{\"@id\":\"https:\/\/insidebigdata.com\/#\/schema\/person\/2949e412c144601cdbcc803bd234e1b9\"},\"breadcrumb\":{\"@id\":\"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/insidebigdata.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Generative AI: Redefining the Economics of Software Development\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insidebigdata.com\/#website\",\"url\":\"https:\/\/insidebigdata.com\/\",\"name\":\"insideBIGDATA\",\"description\":\"Your Source for AI, Data Science, Deep Learning & Machine Learning Strategies\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insidebigdata.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/insidebigdata.com\/#\/schema\/person\/2949e412c144601cdbcc803bd234e1b9\",\"name\":\"Editorial Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebigdata.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e137ce7ea40e38bd4d25bb7860cfe3e4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e137ce7ea40e38bd4d25bb7860cfe3e4?s=96&d=mm&r=g\",\"caption\":\"Editorial Team\"},\"sameAs\":[\"http:\/\/www.insidebigdata.com\"],\"url\":\"https:\/\/insidebigdata.com\/author\/editorial\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Generative AI: Redefining the Economics of Software Development - insideBIGDATA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/","og_locale":"en_US","og_type":"article","og_title":"Generative AI: Redefining the Economics of Software Development - insideBIGDATA","og_description":"Generative AI technology offers a wide range of vertical use cases for software companies, high-tech firms, ISVs, and DNBs to meet efficiency demands and expedite workflows. In fact, a new research study, \"Generative AI: Redefining the Economics of Software Development,\" from our friends at SoftServe shows\u00a0Open AI\u2019s Generative AI can increase productivity for development teams across the SDLC (software development life cycle) by up to 45%.","og_url":"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/","og_site_name":"insideBIGDATA","article_publisher":"http:\/\/www.facebook.com\/insidebigdata","article_published_time":"2023-10-22T10:00:00+00:00","article_modified_time":"2023-10-18T20:42:36+00:00","og_image":[{"width":1100,"height":550,"url":"https:\/\/insidebigdata.com\/wp-content\/uploads\/2023\/08\/Generative_AI_shutterstock_2273007347_special.jpg","type":"image\/jpeg"}],"author":"Editorial Team","twitter_card":"summary_large_image","twitter_creator":"@insideBigData","twitter_site":"@insideBigData","twitter_misc":{"Written by":"Editorial Team","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/","url":"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/","name":"Generative AI: Redefining the Economics of Software Development - insideBIGDATA","isPartOf":{"@id":"https:\/\/insidebigdata.com\/#website"},"datePublished":"2023-10-22T10:00:00+00:00","dateModified":"2023-10-18T20:42:36+00:00","author":{"@id":"https:\/\/insidebigdata.com\/#\/schema\/person\/2949e412c144601cdbcc803bd234e1b9"},"breadcrumb":{"@id":"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/insidebigdata.com\/2023\/10\/22\/generative-ai-redefining-the-economics-of-software-development\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/insidebigdata.com\/"},{"@type":"ListItem","position":2,"name":"Generative AI: Redefining the Economics of Software Development"}]},{"@type":"WebSite","@id":"https:\/\/insidebigdata.com\/#website","url":"https:\/\/insidebigdata.com\/","name":"insideBIGDATA","description":"Your Source for AI, Data Science, Deep Learning & Machine Learning Strategies","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insidebigdata.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/insidebigdata.com\/#\/schema\/person\/2949e412c144601cdbcc803bd234e1b9","name":"Editorial Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebigdata.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e137ce7ea40e38bd4d25bb7860cfe3e4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e137ce7ea40e38bd4d25bb7860cfe3e4?s=96&d=mm&r=g","caption":"Editorial Team"},"sameAs":["http:\/\/www.insidebigdata.com"],"url":"https:\/\/insidebigdata.com\/author\/editorial\/"}]}},"jetpack_featured_media_url":"https:\/\/insidebigdata.com\/wp-content\/uploads\/2023\/08\/Generative_AI_shutterstock_2273007347_special.jpg","jetpack_shortlink":"https:\/\/wp.me\/p9eA3j-8LD","jetpack-related-posts":[{"id":32410,"url":"https:\/\/insidebigdata.com\/2023\/05\/17\/cognizant-launches-cognizant-neuro%ef%b8%8f-ai-platform-to-help-companies-responsibly-deploy-generative-ai-at-enterprise-scale\/","url_meta":{"origin":33705,"position":0},"title":"Cognizant Launches Cognizant Neuro\u00ae\ufe0f\u00a0AI Platform to Help Companies Responsibly Deploy Generative AI at Enterprise Scale","date":"May 17, 2023","format":false,"excerpt":"Cognizant\u00a0(NASDAQ: CTSH) announced a new, enterprise-wide platform, Cognizant Neuro\u00ae\ufe0f\u00a0AI, designed to provide enterprises with a comprehensive approach to accelerate the adoption of generative AI technology and harness its business value in a flexible, secure, scalable and responsible way.","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32117,"url":"https:\/\/insidebigdata.com\/2023\/04\/16\/deloitte-launches-generative-ai-practice-to-help-clients-harness-the-power-of-disruptive-new-ai-technology\/","url_meta":{"origin":33705,"position":1},"title":"Deloitte Launches Generative AI Practice to Help Clients Harness the Power of Disruptive New AI Technology","date":"April 16, 2023","format":false,"excerpt":"Deloitte announced a new practice designed to help clients harness the power of Generative AI and Foundation Models to exponentially enhance productivity and accelerate the pace of business innovation. The new practice combines the world-class services, AI talent and deep industry experience that enterprise leaders need as they design their\u2026","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/insidebigdata.com\/wp-content\/uploads\/2019\/05\/Artificial_intelligence_SHUTTERSTOCK.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":33412,"url":"https:\/\/insidebigdata.com\/2023\/09\/18\/anyscale-teams-with-nvidia-to-supercharge-llm-performance-and-efficiency\/","url_meta":{"origin":33705,"position":2},"title":"Anyscale Teams With NVIDIA to Supercharge LLM Performance and Efficiency","date":"September 18, 2023","format":false,"excerpt":"Anyscale, the AI infrastructure company built by the creators of Ray, the world\u2019s fastest-growing open-source unified framework for scalable computing, today announced a collaboration with NVIDIA to further boost the performance and efficiency of large language model (LLM) development on\u00a0Ray\u00a0and the\u00a0Anyscale Platform\u00a0for production AI.","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/insidebigdata.com\/wp-content\/uploads\/2023\/08\/Generative_AI_shutterstock_2273007347_special.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":33056,"url":"https:\/\/insidebigdata.com\/2023\/08\/07\/the-economic-impact-of-the-ai-powered-developer-lifecycle-and-lessons-from-github-copilot\/","url_meta":{"origin":33705,"position":3},"title":"The Economic Impact of the AI-powered Developer Lifecycle and Lessons from GitHub Copilot","date":"August 7, 2023","format":false,"excerpt":"GitHub released new research detailing the potential economic impact and productivity benefits of generative AI. The company partnered with Harvard Professor Marco Iansiti, who\u2019s well-known in the field, to dig into the impacts of GitHub\u2019s Copilot tool, and generative AI more broadly. The potential is massive \u2013\u00a0the study found that\u2026","rel":"","context":"In "Cloud"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/insidebigdata.com\/wp-content\/uploads\/2023\/08\/Data_scientist_shutterstock_768047488_special.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":34101,"url":"https:\/\/insidebigdata.com\/2023\/12\/07\/new-state-of-generative-ai-insiders-report-outlines-the-urgency-to-be-generative-ai-ready-in-2024\/","url_meta":{"origin":33705,"position":4},"title":"New State of Generative AI Insiders Report Outlines the Urgency to be Generative AI-Ready in 2024","date":"December 7, 2023","format":false,"excerpt":"Businesses will face substantial competitive hurdles if they are not Generative AI-ready in the next few years;\u00a0Report is the first to offer a generative AI scorecard for 2024 readiness. \u00a0\"The State of Generative AI Insiders Report,\" in conjunction with leaders from Insight Partners, Battery Ventures, Dataiku, Weights & Biases and\u2026","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/insidebigdata.com\/wp-content\/uploads\/2023\/08\/Generative_AI_shutterstock_2273007347_special.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":33842,"url":"https:\/\/insidebigdata.com\/2023\/11\/08\/top-10-insidebigdata-articles-for-october-2023\/","url_meta":{"origin":33705,"position":5},"title":"TOP 10 insideBIGDATA Articles for October 2023","date":"November 8, 2023","format":false,"excerpt":"In this continuing regular feature, we give all our valued readers a monthly heads-up for the top 10 most viewed articles appearing on insideBIGDATA. Over the past several months, we\u2019ve heard from many of our followers that this feature will enable them to catch up with important news and features\u2026","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/insidebigdata.com\/wp-content\/uploads\/2023\/07\/Top10-column-banner_special.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/posts\/33705"}],"collection":[{"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/users\/10513"}],"replies":[{"embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/comments?post=33705"}],"version-history":[{"count":0,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/posts\/33705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/media\/33232"}],"wp:attachment":[{"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/media?parent=33705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/categories?post=33705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/tags?post=33705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}