6,000 execs struggle to find the AI productivity boom

"A survey of almost 6,000 corporate execs across the US, UK, Germany, and Australia found that more than 80 percent detect no discernible impact from AI on either employment or productivity. The study from the National Bureau of Economic Research (NBER) in Massachusetts is based on input from CFOs, CEOs, and executives at enterprises of different sizes across the four countries."

"The impact of AI on employment and productivity is limited, according to those polled. More than 90 percent of managers say AI had no impact on employment at their organization over the past three years, and 89 percent saw no change in productivity (measured as volume of sales per employee). Despite this, many execs anticipate significant consequences over the next three years, including reduced employment. NBER estimates this will hit about 1.75 million jobs across all four nations by 2028."

"The respondents also expect their businesses to become more productive by about 1.4 percent over the next three years due to AI. This implies a reversal of the long-run decline in productivity growth in many advanced economies, the authors state. The report also notes that employee expectations differed from the senior execs, in that workers expected to see more jobs created as a result of AI over the next three years, along with smaller productivity gains."

Almost 6,000 corporate executives across the US, UK, Germany, and Australia responded, including CFOs, CEOs, and executives at firms of various sizes. On average, 69 percent of businesses currently use some form of AI and 75 percent expect to use it within three years. Typical uses include text generation using large language models, visual content creation, and data processing using machine learning. More than 90 percent of managers report no employment impact in the past three years and 89 percent report no productivity change. Executives anticipate about 1.75 million jobs affected by 2028 and a 1.4 percent productivity gain over three years. Employees expect more job creation and smaller productivity gains.

Read at Theregister