☀️ AI Has Rocked the Stock Market, But What Will It Do for the Economy
[long read]
Bloomberg reports that for all the excitement, evidence of a boost to productivity is still thin on the ground.
📝There are three ways that could happen. Optimists see AI as a driver of rising prosperity: investors win and so do workers. Pessimists worry that chatbots are more parlor trick than paradigm shift, and the billions sunk into training models won’t ever generate a return. There’s also a dystopian view, with AI making the algorithm-elite rich beyond imagining, and everyone else unemployed.
📊Goldman Sachs analysts estimate that by 2034 US GDP will be 2.3% bigger as a result of AI. McKinsey Global Institute goes further and expects a 5-13% boost by 2040.
📊Daron Acemoglu, a 2024 Nobel laureate in economics, estimates that only 5% of tasks currently performed by humans will be taken over by AI in the next 10 years. He expects the contribution to GDP a decade from now to be around 1%.
📈Technology is a major driver of productivity growth, but gains are not always quick to arrive. “You can see the computer age everywhere but in the productivity statistics,” wrote Nobel Prize-winning economist Robert Solow back in 1987. It took decades for the electric motor to show up in the productivity statistics.
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© Экономическое обозрение
© Иқтисодий шарҳ
© Economic Review
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[long read]
Bloomberg reports that for all the excitement, evidence of a boost to productivity is still thin on the ground.
📝There are three ways that could happen. Optimists see AI as a driver of rising prosperity: investors win and so do workers. Pessimists worry that chatbots are more parlor trick than paradigm shift, and the billions sunk into training models won’t ever generate a return. There’s also a dystopian view, with AI making the algorithm-elite rich beyond imagining, and everyone else unemployed.
📊Goldman Sachs analysts estimate that by 2034 US GDP will be 2.3% bigger as a result of AI. McKinsey Global Institute goes further and expects a 5-13% boost by 2040.
📊Daron Acemoglu, a 2024 Nobel laureate in economics, estimates that only 5% of tasks currently performed by humans will be taken over by AI in the next 10 years. He expects the contribution to GDP a decade from now to be around 1%.
📈Technology is a major driver of productivity growth, but gains are not always quick to arrive. “You can see the computer age everywhere but in the productivity statistics,” wrote Nobel Prize-winning economist Robert Solow back in 1987. It took decades for the electric motor to show up in the productivity statistics.
Read full:
⬇️⬇️⬇️
en review.uz/en/xbl
ru review.uz/xbl
More analytics
⬇️⬇️⬇️
© Экономическое обозрение
© Иқтисодий шарҳ
© Economic Review
telegram | facebook | twitter|linkedin