The relationship between artificial intelligence (AI) and macroeconomic productivity is a topic of growing interest. Recent studies suggest that AI can have a significant positive effect on productivity, but the extent of this effect is still unclear.
A study focusing on Japan estimates that AI boosts labor productivity by around 0.5-0.6% at the macro level. This estimate is based on data from original surveys of Japanese workers, which provides insights into the use of AI in the workplace and its effect on work efficiency.
The study also finds that the productivity effect of AI is likely to grow over time, but with diminishing additional gains. Furthermore, the adoption of AI among high-wage and highly educated workers may widen overall labor market inequality in the near term.
Another report highlights the economic potential of generative AI, which is poised to unleash the next wave of productivity. Generative AI applications, such as ChatGPT and GitHub Copilot, have the ability to perform routine tasks, write text, compose music, and create digital art.
