The Use of GenAI Technology in Programming Is Profitable

 

Although generative AI is still in its infancy, it has apparently shown its worth in powering coding assistance rather quickly.

According to a Financial Times story published on Friday, August 23, GitHub Copilot, an AI coding helper owned by Microsoft, has attracted around 2 million paying customers since its inception in 2022 and has helped GitHub's income rise by 45% year over year.

GitHub CEO Thomas Dohmke stated in the article, "We found very quickly that GPT-3, OpenAI's first big model, was so good at creating code that we could develop a solution around this."

The study claims that AI assistants for creating and modifying code have also been developed by Amazon, Meta, and Google.

In this space, a number of startups are also in competition: Replit, Anysphere, Magic, Augment, Supermaven, and Poolside AI. According to the study, these companies have raised $906 million since January 2023, including $433 million thus far in 2024.

According to a 2023 McKinsey estimate, artificial intelligence (AI) might increase software engineering productivity by 20% to 45%.

According to the report, at least one corporation will cease employing individuals who code without AI by the end of the year; coding copilots have demonstrated a clear time to value and value-add; As the task gets easier, there will be a greater demand for programming; 

software developers claim that AI takes care of tedious jobs and frees them up to be more creative, and they have already incorporated these assistants into their workflow.

According to the study, Hadi Partovi, CEO of Code.org, stated that "software engineering without AI is a little bit like writing without a word processor at this moment."

PYMNTS revealed in November that digital transformation can be accelerated by streamlining software development operations with generative AI technologies.

The advantages of having AI-generated code available are immeasurable at a time when many businesses are improving their systems in various departments, such as accounts payable and accounts receivable.

In an interview published in May, Bob Rogers, CEO of supply-chain AI startup Oii.ai, said to PYMNTS, "Generative AI can create your code for you." "Generative AI truly does not mind going from English to Spanish to Python or JavaScript, and it is fluent in all of them. Programming is a language."