“AI will increase US productivity by only 0.5% and GDP growth by only 0.9% cumulatively over the next decade — a nontrivial but modest effect, and far less than the revolutionary changes some are predicting.”
Said Jun 2024Deadline Dec 31, 2034Goldman Sachs Research, Top of Mind: 'Gen AI: Too Much Spend, Too Little Benefit?', June 2024 (interview; figures from Acemoglu's paper 'The Simple Macroeconomics of AI')
Resolves on measured US total factor productivity and GDP attributable to generative AI over 2024-2034, against Goldman's own far larger ~9% productivity / ~6% GDP estimates.