The Economic Impact of Generative AI
Mental models and data relevant to the jobs of the future
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Utkarsh is addressing a group of unicorn founders, institutional investors, and family offices at this UBS event on May 9. We often engage with fast-growing organizations to conduct workshops and seminars for their executives.
Google published an important report analyzing the economic impact of generative AI. Please pay attention to the data points and examples. Here are some of the main points it covers:
Goldman Sachs estimates that over the next decade the generative AI technology will be responsible for a 0.4 percentage point increase in GDP growth in the U.S., 0.3 points in other developed markets, and 0.2 points in emerging markets.
If a technology possesses three key characteristics — rapid improvement, pervasiveness, and complementary innovation — it’s likely to have a large, positive, economy-wide impact on productivity growth. In other words, it’s likely to be a general-purpose technology. Generative AI is a general-purpose technology