AI Won’t Supercharge the US Economy
The technology will probably provide only a small boost to economic growth, but it could still have a significant impact in the long run.
Can the AI revolution match Britain’s Industrial Revolution?
Photographer: Christopher Furlong/Getty Images EuropeIt is a radical suggestion, no doubt, but some analysts predict that AI might enable the US economy to achieve an annual growth rate of 30%. Even more dramatic accounts — though you should be wary of biased authors — suggest that AI will, after reaching some critical mass of expertise, bring about a revolutionary utopia.
I am a believer in the power of current AI trends. But a look at the way economies work argues for more moderate (but still substantial) estimates of AI’s impact. The most likely scenario is that economic growth will rise by a noticeable but not shocking amount.