Contrary to reports suggesting significant productivity gains from AI in the next decade by Goldman Sachs and McKinsey, MIT economist Daron Acemoglu's analysis paints a different picture, estimating only a modest impact on economic growth. Acemoglu's study on AI's effect on productivity and GDP forecasts a more conservative outlook compared to other optimistic projections.
New study by econ Daron Acemoglu estimates Gen AI could lead to 'modest' productivity and GDP gains over next decade. While far lower than some forecasts, AI creating new tasks + revolutionizing scientific progress could drive faster growth not included in the calculations.👇 https://t.co/Ku3pSqfEZH
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What productivity boom? AI will provide just a 1% GDP boost over the next decade, MIT economist says. https://t.co/dJ57NwKNR0
New @nberpubs paper by @DAcemogluMIT with estimates of AI’s impact on economic growth. “Modest but non-trivial.” https://t.co/9xl4B5qcgJ https://t.co/pl1rThhkbU
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Recent reports from @GoldmanSachs and @McKinsey_MGI suggest that AI will bring massive productivity gains over the next decade. But @DAcemogluMIT's analysis of the data tells a very different story. https://t.co/tKe2JPcJaj