| ▲ | fasterik 3 hours ago | |
Ironically, by predicting the most chaotic outcome you're falling for the narrative that AI will transform the economy overnight, which is exactly what AI companies' marketing divisions want you to believe. >More than 90 percent of executives report no effect of AI use on employment over the past three years, and 89 percent report no impact on labor productivity. Among the minority that do report effects, the results tilt slightly positive for productivity, with an estimated average boost of 0.29 percent. However, executives anticipate much larger effects going forward. They forecast that over the next three years, AI will increase labor productivity by 1.4 percent on average while reducing employment by 0.7 percent, implying a net output gain of roughly 0.8 percent. About two-thirds of the anticipated workforce reduction is expected to come from reduced hiring. https://www.nber.org/digest/202605/global-evidence-business-... A 1-2% increase in labor productivity year over year is typical for a mature economy in the absence of a new transformational technology. The 0.7% reduction in workforce is an optimistic prediction by a small minority of executives. Even if that happened across all industries (unlikely), an increase in unemployment from 4.1% to 4.8% over 3 years is hardly pitchfork territory. Given the current evidence, I find it hard to imagine a realistic scenario where "a few hundred million people get angry within one election cycle". That might change if we see economy-wide 10% productivity gains sustained over a decade, but I'm not holding my breath. | ||
| ▲ | glhaynes 21 minutes ago | parent [-] | |
Ironically, by predicting the most chaotic outcome you're falling for the narrative that AI will transform the economy overnight, which is exactly what AI companies' marketing divisions want you to believe. You're using a rhetorical device to imply that they're "falling for" a narrative. "Falling for" only follows if that's why they are making the prediction; this construction doesn't allow that they may have come to this belief on their own. | ||