Azeem Azhar discusses the apparent contradiction between individual AI productivity gains and the broader economic impact, noting recent stock market downturns for AI-related companies due to fears that revenues won't materialize quickly enough to justify infrastructure investments. He presents evidence of productivity increases at the individual and team levels within companies like Micron, Coinbase, BNY, and Walmart, as well as insights from academic research on AI's impact on software developers and plumbers. Azhar highlights the challenges in scaling these gains across entire organizations due to people, process, and security issues, referencing the historical example of electricity adoption in manufacturing. Despite these challenges, he concludes with a surprising data point from the St. Louis Fed, indicating that generative AI adoption is the fastest of any technology to date and may have already increased labor productivity by 1.3%.
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