Oct 31, 2023·edited Oct 31, 2023Liked by Joachim Klement
from BNP PARIBAS' publication:
Global economic impact of AI: The future is coming faster
-Adoption can be relatively fast. Generative AI is likely to transform economies faster than previous episodes of significant technological change. We could see mass adoption among corporates in the coming two to five years. We estimate a 1% productivity gain already by the end of the decade.
-Readiness varies across countries. Advanced countries look better positioned than emerging countries to harness the benefits of AI, according to our country ranking of AI readiness. (Italy is the worst equipped)
-Impact is likely disinflationary. The disinflationary impact of AI could be around 1% a year, especially on services prices, helping to offset other potential long-term inflationary forces.
-While generative AI is likely to boost productivity, its effect on the workforce is less clear-cut. Over the long term, history shows that productivity gains create their own demand for labour, which will support employment. In the short to medium term, large job disruptions look likely, especially in the service sector. Recessions usually trigger corporate restructuring and labour adjustments
from BNP PARIBAS' publication:
Global economic impact of AI: The future is coming faster
-Adoption can be relatively fast. Generative AI is likely to transform economies faster than previous episodes of significant technological change. We could see mass adoption among corporates in the coming two to five years. We estimate a 1% productivity gain already by the end of the decade.
-Readiness varies across countries. Advanced countries look better positioned than emerging countries to harness the benefits of AI, according to our country ranking of AI readiness. (Italy is the worst equipped)
-Impact is likely disinflationary. The disinflationary impact of AI could be around 1% a year, especially on services prices, helping to offset other potential long-term inflationary forces.
-While generative AI is likely to boost productivity, its effect on the workforce is less clear-cut. Over the long term, history shows that productivity gains create their own demand for labour, which will support employment. In the short to medium term, large job disruptions look likely, especially in the service sector. Recessions usually trigger corporate restructuring and labour adjustments