"The collective decisions we make today will determine how AI affects productivity growth, income inequality, and industrial concentration
Economists have a poor track record of predicting the future. And Silicon Valley repeatedly cycles through hope and disappointment over the next big technology. So a healthy skepticism toward any pronouncements about how artificial intelligence (AI) will change the economy is justified. Nonetheless, there are good reasons to take seriously the growing potential of AI—systems that exhibit intelligent behavior, such as learning, reasoning, and problem-solving—to transform the economy, especially given the astonishing technical advances of the past year."
The article was published in the IMF's Finance&Development magazine. Click here to access the article.
Source: Erik Brynjolfsson, Gabriel Unger, IMF, Finance&Development, December 2023 issue
Illustration: IMF