An interesting post from Peter Berezin of BCA Research. The much anticipated productivity boost that many experts anticipate through the widespread adoption of AI has yet to show up in the data, at least in the U.S. It's still early days in the onward march of AI. By 2030 one would think AI will be making a material contribution to productivity across swathes of the overall business sector. But we'll have to wait for the data before passing any kind of definitive judgement.
Is AI boosting productivity? At least so far, it’s not visible in the data. Productivity in Q2 was about where the CBO predicted it would be five years ago.
Consulting Economist
1moBased on our experience with ICT’s and productivity, there is a long lag between ICT investment and improved productivity. I similary expect this lag for AI investment to be similary long.