When firms figure out how to produce more per working hour, it means that they can maintain or expand profits even as they pay or invest more.
Many economists and officials are skeptical whether AI, especially generative AI, has spread enough to impact productivity data significantly.
Jerome Powell and John Williams expressed doubts on AI's short-term productivity impact, citing economist Robert Gordon's views on transformative technologies.
Robert Gordon remains cautious about AI's impact on productivity growth, suggesting enthusiasm around AI may be overhyped.
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