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>Business spending on AI is more than all consumer spending combined as a share of GDP. Your phrasing there is misleading. The article says, "In the first half
by WaltPurvis 1y ago
>Business spending on AI is more than all consumer spending combined as a share of GDP.
Your phrasing there is misleading. The article says, "In the first half of this year, business spending on AI added more to GDP growth than all consumer spending combined," and the key is the "added more to GDP growth" part.
Growth in consumer spending was sluggish, while growth in business AI spending was insane, so in terms of how much the economy grew, the rise in AI spending exceeded the rise in consumer spending. Which is pretty amazing, actually. But, as far as the total amount of spending, business AI is at most only a few percentage points of GDP (and that's if you interpret "business AI spending" very broadly), while consumer spending is somewhere around 67-70% of GDP.
- idontwantthis 1y agoThanks I did misunderstand that.