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Economists describe technologies such as electricity and computing as general-purpose technologies: they affect many sectors and require complementary changes before their benefits are fully realised.
How it works
For businesses, adoption typically involves reorganising workflows, retraining staff and investing in data infrastructure. Those intangible investments can depress measured productivity in the short run.
General-purpose technologies have historically taken time to show up in productivity data. The same dynamics may apply to AI.
What to watch
Policy questions include how gains are distributed, how labour markets adjust, and how competition authorities treat markets where scale and data confer advantages.
Key concepts
- AI
- Productivity
- Technology
