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You can theorize all you like, and many people like yourself are expecting to see GDP growth pick up as a result of AI, maybe if only because of the boom in dat
by HarHarVeryFunny 12d ago
You can theorize all you like, and many people like yourself are expecting to see GDP growth pick up as a result of AI, maybe if only because of the boom in datacenter construction etc (regardless of whether AI ends up actually boosting the economy), BUT ...
The reality is that so far there has been no sign of GDP growth picking up. It is basically flat at 2.5% +/- over the last few years.
In a similar vein one might have expected that the internet (think of all the e-commerce and efficiencies!) might have shifted GDP growth into a higher gear, but it did not, although in that case there was at least a significant boost in the 1996-2000 "dot com" era when the build out was happening (then to be followed by the crash and all the unused dark fiber etc).
So, maybe the hoped-for AI boom will be just as much of a dud (as it appears to be so far) as the internet boom. New day, different tools, same growth.
It's perhaps odd that we're not even seeing datacenter/etc build out register on GDP, but perhaps the scale of it is not as large as the internet build out?
- user43928 12d agoIt's not really odd when you look at the numbers in my comment, where the datacenter investments are 0.8T vs 126T GDP. That's 0.6%. Subtract last year's investment and then we're talking yearly growth. Turns out it's not the earth shattering capital investment the comment before mine was making it out to be. And about productivity gains, AI became good at software development in spring this year. I'm not sure what productivity miracles reflecting in GDP growth you already expect to see by now.