AI Hype Is Proving to Be a Solow’s Paradox: Stephen Mihm

AI enthusiasts, beware: predictions that the technology will suddenly boost productivity eerily echo those that followed the introduction of computers to the workplace. Back then, we were told that the miraculous new machines would automate vast swaths of white-collar work, leading to a lean, digital-driven economy.

Fast forward 60 years, and it’s more of the same. Shortly after the debut of ChatGPT in 2022, researchers at the Massachusetts Institute of Technology claimed employees would be 40% more productive than their AI-less counterparts.

These claims may prove to be no more durable than the pollyannish predictions of the Mad Men era. ...