Wei and colleagues at Google introduced it in 2022 with few-shot prompts whose examples included the reasoning, not just the answers. The gains appeared mainly in large models; in small ones the written reasoning was often wrong. Kojima and colleagues then showed the same year that a single sentence, "Let's think step by step", gets much of the effect with no examples, which became known as zero-shot chain of thought.
The numbers that made it famous: on the GSM8K grade-school math benchmark, PaLM 540B went from 17.9% with standard prompting to 56.9% with chain of thought. Self-consistency (Wang and colleagues, 2022), which samples several reasoning chains and takes a majority vote on the final answer, raised it to about 74%. Zero-shot chain of thought took InstructGPT from 17.7% to 78.7% on the MultiArith benchmark.
Follow-ups: reasoning models such as OpenAI's o1 and DeepSeek-R1 are trained with reinforcement learning to produce long chains on their own, so explicit prompts help them less; the written chain is not guaranteed to reflect how the model actually reached its answer (Turpin and colleagues, 2023); and the extra tokens add latency and cost.