Researchers currently are exploring the potential economic impacts of AI integration.
Chad Syverson, a professor at the Chicago Booth School of Business, recently expressed a data-backed optimism concerning productivity. He indicated that the adoption of AI, the establishment of new businesses, and job transitions are all poised to yield positive outcomes, FT reports.
Although current productivity growth appears to be sluggish, he maintained that the benefits from recent shifts in workplace practices, along with the forthcoming advantages of AI, would require some time to become apparent in the data.
“Very little of this stuff is plug and play . . . companies have to invest a lot of resources to reconfigure their business model for this new thing,” Syverson said. “New software, regulatory issues, all that stuff has to be figured out. There is a period where the technology is around and you can see the benefits but for lots of reasons . . . productivity goes down.”