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The buzz about AI coding tools is unrelenting. To listen to the reports, startups are launching with tiny engineering teams, non-programmers are “vibe-coding” entire apps, and the job market for entry-level programmers is crashing. But according to a METR experiment conducted in the spring of 2025, there’s at least one cohort that AI tools still aren’t serving. METR performed a rigorous study to measure the productivity gain provided by AI tools for experienced developers working on mature projects. The results are surprising everyone: a 19 percent decrease in productivity. Even the study participants themselves were surprised: they estimated that AI had increased their productivity by 20 percent. If you take away just one thing from this study, it should probably be this: when people report that AI has accelerated their work, they might be wrong! This result seems “too bad to be true” – so astonishing that it almost has to be spurious. However, the study was carefully designed, and I believe the findings are real. At the same time, I believe that at least some of the anecdotal reports of huge productivity boosts are real.