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Does the alactrity or "activation speed" stat decrease GCD in swtor?

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No, the global cool down is not effected, except in the case of cast-time abilities.

Source: http://sithwarrior.com/forums/Thread-Alacrity-and-the-GCD

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Yes. As of game update 2.0 Alacrity was improved. It now affects resource regeneration and the global cooldown.

Source: http://www.swtor.com/info/news/blog/20130417-0

And as of game update 3.0 alacrity also affects over-time effects and everything else. A character with 10% alacrity should be 10% faster in everything.

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  • Note also that as of 3.0, Alacrity affects everything. Tick speed of your DoTs, internal (proc) cooldowns, ability cooldowns, etc.
    – Matthew Read
    Commented Dec 4, 2014 at 3:40

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