- AI could transform productivity
- But at what cost?
As advanced economies battle high inflation, low growth, stagnant productivity and labour shortages, could salvation be on the horizon? Last month, economist Dario Perkins of TS Lombard described artificial intelligence (AI) as “the world’s best opportunity for avoiding a nasty stagflationary slump”.
It is easy to be cynical about the next big technological innovation. After all, blockchain and virtual reality also piqued our interest (see chart) but have had limited material impact on the economy since.