Thousands of CEOs admit AI had no impact on employment or productivity

[Preying Mantis]

LMAO took them long enough to admit this.

Thousands of CEOs admit AI had no impact on employment or productivity—and it has economists resurrecting a paradox from 40 years ago | Fortune

In the 1980s, economist Robert Solow made an observation that reminded economists of today’s AI boom: “You can see the computer age everywhere but in the productivity statistics.”

fortune.com

Is AI actually making people more productive?​

In 2023, MIT researchers claimed AI implementation could increase a worker’s performance by nearly 40% compared to workers who didn’t use the technology. But emerging data failing to show these promised productivity gains has led economists to wonder when—or if—AI will offer a return on corporate investments, which swelled to more than $250 billion in 2024.

“AI is everywhere except in the incoming macroeconomic data,” Apollo chief economist Torsten Slok wrote in a blog post, invoking Solow’s observation from nearly 40 years ago. “Today, you don’t see AI in the employment data, productivity data, or inflation data.”

Slok added that outside of the Magnificent Seven, there are “no signs of AI in profit margins or earnings expectations.”

 

[Dopious]

I guess we as a society is still in the newborn phase of AI and most "workers" are not even using it, hard for a carpenter, street sweeper or a guy bulding cars on the factory floor to use it on hands-on jobs.

I think it will take some 10-20 years to see the real effect, just like Internet.

 

[notNewB]

I guess we as a society is still in the newborn phase of AI and most "workers" are not even using it, hard for a carpenter, street sweeper or a guy bulding cars on the factory floor to use it on hands-on jobs.

I think it will take some 10-20 years to see the real effect, just like Internet.

I agree. People are not really using it yet. Using AI to write an email or summarizing a big chunk of text means you are not using it at all.

It'll take time to properly integrate.

 

[Champagne]

I think it will take some 10-20 years to see the real effect, just like Internet.

It could be either very positive or very negative.

 

[RiskyStuff]

I confirm as CEO of my own art.

This stuff only helps mildly.

Video generation is expensive.

Only text tokens and code are cheap.

Also custom apps

But the bees knees aren't much better.

Of course you can make the bitch dance the way you want, but... investment is needed, also setup and understanding... it's not gonna be learned just like that.

 

[Rem]

our company started using Cursor AI.
on a dept with over ~200 ppls were given the invite to use it.
Only ~70s even clicked the link and logged in
~10 used it a few times and never again
a couple never used it until they saw their coworkers use it and started to give it a try themselves
~50s use it consistently

its a small sample but when I asked why ppl never used it,
I received alot of the same type of responses
along the line of
"i dont need it"
"i dont know how to use it"
"takes more time learning how to use it"
"chatgpt isnt useful" <- yes, some moron even told me chatgpt isnt useful when cursor allows you to choose your model.

But honestly, despite given them all a 2 day workshop on how to use it and what not
it's a tool, some going embrace, some will only after they see someone else show "results" & others really wont because their mindset is "anti-ai"

 

[SilverClouds]

our company started using Cursor AI.
on a dept with over ~200 ppls were given the invite to use it.
Only ~70s even clicked the link and logged in
~10 used it a few times and never again
a couple never used it until they saw their coworkers use it and started to give it a try themselves
~50s use it consistently

its a small sample but when I asked why ppl never used it,
I received alot of the same type of responses
along the line of
"i dont need it"
"i dont know how to use it"
"takes more time learning how to use it"
"chatgpt isnt useful" <- yes, some moron even told me chatgpt isnt useful when cursor allows you to choose your model.

But honestly, despite given them all a 2 day workshop on how to use it and what not
it's a tool, some going embrace, some will only after they see someone else show "results" & others really wont because their mindset is "anti-ai"

Hahah maybe they're afraid AI will take their jobs so they boycott it just in case

 

[Rem]

Hahah maybe they're afraid AI will take their jobs so they boycott it just in case

whch will just to get fired in the meantime lol
boycott doesn't work