| ▲ | keeda 14 hours ago | |
I like to cite those St. Louis Fed links too but for the opposite reason. With the caveat that it's based on survey data, it is one of the few data sources that shows the real of AI in the real world. And it is pretty astounding. It is only used for 6% of all work hours but it saves 2% of all work hours. That is very low usage, but that is a 33% savings! Now let's put that trillions in capex into perspective. About 55% of people use it for 6% of all work hours. Approximating a bit, that's basically 3% of all of the work hours by all of the workers in all of US, and as above, AI saves a 3rd of that time, so AI is already saving 1% of all work hours in the US! (In case you think this Math is off, the same St. Louis Fed articles above have similar numbers, and corroborates with other national data sources as well as research studies, and suggests that the impact of GenAI may already be showing up in "national level statistics" to the tune of a 1.3% bump in national labor productivity! With only this shallow level of adoption! In just 3 years! It took the computer revolution about 2 decades to show up in economics data.) According to the BLS, employers pay $12.3 trillion for that work. So a 1% savings on that is a $123 billion. An up front ~$2T investment over 2 - 4 years that is already saving $123 billion annually in the US alone is pretty damn good actually, and will only go up as usage improves. This is not hope, this is data, and you had already brought it with you! ;-) | ||