Really interesting article. Why isn't the impact of AI showing up in GDP? Because most of the benefit accrues to consumers. To measure impact, they investigate how much people would *need to be paid to give up a good*, rather than what they pay for it.
Avinash (Avi) Collis
Avinash (Avi) Collis4.8. klo 04.11
My latest (with @erikbryn) in @WSJ today: AI is already generating a lot of benefits ($97 billion in 2024 in the US alone, according to our calculations), but these benefits will not show up in GDP numbers for a while.
A similar pattern has been seen in other technological assets like email, Wikipedia, and Google Maps. They provided huge value to consumers but were free/near-free and therefore didn't contribute much to GDP growth.
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