Large Language Models (LLMs), which are capable of producing text that resembles human speech and carrying out a variety of language-related tasks, have become a potent tool in the world of software and coding. The Tesseract Academy recently conducted an executive survey on the expected impact and perceptions of LLMs, and the results are available in its report, "The Disruptive Impact of Large Language Models (LLMs) on the Software and Coding Industry".
The report investigates how business professionals view and anticipate the disruptive potential of LLMs in the software and coding sector. The survey results show a range of attitudes towards the disruptive effects of Large Language Models (LLMs) on the software and coding industry, including anticipation, worry, and optimism.
The automation of numerous repetitive, low-skilled, and routine tasks by ChatGPT and other AI technologies is anticipated to free up workers to concentrate on more difficult tasks that call for creativity, problem-solving, and critical thinking abilities. As a result, there will be a rise in the need for workers with these higher-level skills and a fall in the need for workers who complete routine tasks.
The survey sought the opinions of 15 experts, and the findings comprise important insights into the future direction of the industry. Software developer, product manager, entrepreneur, CEO, data scientist, marketer, salesperson, project manager, other IT professional, senior consultant, platform services, executive lawyer, and educator were among the respondents' professions.
Impact on Professional Landscape
The survey included questions such as, "What level of seniority do you think is going to be the most impacted by LLMs?" To this, 46.7% of respondents believed that Junior Devs will be most impacted by LLMs. 33.3% of respondents believed that Medium Devs will be most impacted by LLMs.
A snapshot of survey results:
- Mid-level developers may need to adjust to new opportunities and challenges as a result of how LLMs may affect their duties and roles.
- Some people worry about possible job loss and declining demand for specific coding tasks.
- The findings suggest that LLMs have the potential to enhance and complement human skills, opening up new job opportunities that call for experience collaborating with LLMs.
- Optimism regarding the potential of LLMs to improve productivity, efficiency, and innovation within software development teams was also revealed by the survey.
Over 50% of those who responded to the question about how salaries might be impacted thought that LLMs would have a detrimental impact on salaries in the software development industry. Conversely, only 20% of respondents believed that LLMs would lead to higher salaries.
Impact on Productivity and Business
100% of those surveyed think that the combination of LLMs and no-code development will be beneficial for startups. This suggests that LLMs have the potential to empower non-technical people to create software applications, lowering entry barriers and encouraging innovation.
Small businesses may be able to compete on an even playing field thanks to LLMs, which give them access to cutting-edge software development capabilities.
The survey concluded with a personal question, "How do you personally feel about the developments of LLMs and the impact on the world of software development? The answers included a mix of thoughts and emotions, such as "Exciting", "I don't feel threatened by it yet", "I feel positive about it as an entrepreneur", and "It still need human guidance".