AI stands to revolutionize business and government across the U.S., driving efficiency and innovation, though its economic and fiscal impacts remain complex and uncertain.
According to a recent CBO report, AI's transformative potential could enhance productivity in various sectors, yet adoption remains limited primarily to larger companies due to high costs.
While AI shows promise in strengthening productivity and reducing wage gaps, the broader implications for labor markets and income distribution are challenging to predict.
AI could play a dual role in shaping the federal budget, possibly enhancing tax revenues from increased productivity but also risking payroll reductions for displaced workers.
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