Daron Acemoglu: What do we know about the economics of AI? | MIT Economics
"Since a lot of growth comes from technological innovation, the way societies use AI is of keen interest to Acemoglu, who has published a variety of papers about the economics of the technology in recent months.
“Where will the new tasks for humans with generative AI come from?” asks Acemoglu. “I don’t think we know those yet, and that’s what the issue is. What are the apps that are really going to change how we do things?”"
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Since 1947, U.S. GDP growth has averaged about 3 percent annually, with productivity growth at about 2 percent annually. Some predictions have claimed AI will double growth or at least create a higher growth trajectory than usual
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cemoglu estimates that over the next decade, AI will produce a “modest increase” in GDP between 1.1 to 1.6 percent over the next 10 years, with a roughly 0.05 percent annual gain in productivity.