Dealbook by Andrew Ross Sorkin NYT column
Snippet on AI productivity
The big new hope is that artificial intelligence will snap this mediocrity streak — but doubts are creeping in. And one especially skeptical paper by Daron Acemoglu, a labor economist at M.I.T., has triggered a heated debate.
Acemoglu concluded that A.I. would contribute only “modest” improvement to worker productivity, and that it would add no more than 1 percent to U.S. economic output over the next decade. That pales in comparison to estimates by Goldman Sachs economists, who predicted last year that generative A.I. could raise global G.D.P. by 7 percent over the same period.
My comment, the labor argument needs to be augmented by healthcare gains contributing to productivity and GDP growth. I am not sure the commentator has included that. That said labor to AI augmented labor, I agree with the lower expectations. There is amazing waste in AI production processes.