![]() Again, there were disagreements about what was really going on, further muddying the waters as to whether the paradox had been resolved. doubled, from 1.5% per year in the first half of that decade to 3% in the second. In the second half of the 1990s, around the time the World Wide Web emerged, productivity growth in the U.S. ![]() Individuals in those fields may worry that companies will use generative AI to do jobs they once did, but economists see great potential to boost productivity of the workforce as a whole.įor a while, it seemed that the optimists would be vindicated. Professions such as advertising, entertainment and creative and analytical work could be among the first to feel the effects. Generative AI products are capable of producing written, graphic and audio content or software programs with minimal human involvement. Said another way, higher productivity is expected to lead to higher wages. This seemingly dry statistic matters to every working individual, because it ties directly to how much a worker can expect to earn for every hour of work. The IT revolution and the productivity paradoxĪ key metric for tracking the consequences of technology on the economy is growth in worker productivity – defined as how much output of work an employee can generate per hour. But if the history of the future of work is any guide, we should be prepared for some surprises. A look at how previous waves of such digital technologies as personal computers and the internet affected workers offers some insight into AI’s potential impact in the years to come. I lead a research program called Digital Planet that studies the impact of digital technologies on lives and livelihoods around the world and how this impact changes over time. The implications of such gigantic numbers are sobering, but how reliable are these predictions? ![]() The consulting firm McKinsey released its own study predicting an AI-powered boost of $4.4 trillion to the global economy every year. Up to 300 million jobs worldwide could be affected. A widely circulated Goldman Sachs study anticipates that about two-thirds of current occupations over the next decade could be affected and a quarter to a half of the work people do now could be taken over by an algorithm. The route to this economic transformation is through the workplace. ![]()
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