Making Money Will AI really deliver growth?
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Mar 17, 2025 In this engaging discussion, Diane Coyle, a prominent Economist and Professor at the University of Cambridge, dives into the transformative potential of AI on productivity in the UK. She highlights the need for local talent and regulatory frameworks to harness AI's benefits fully. Coyle also critiques traditional metrics like GDP, advocating for a shift towards more inclusive measures. The conversation touches on AI’s dual nature, its risks and rewards, and the challenges faced by businesses in adapting to this rapidly evolving landscape.
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AI's Impact on Productivity
- AI adoption requires organizational restructuring and data preparation.
- It will take time for AI's productivity benefits to fully materialize.
Defining Productivity
- Productivity is defined as output relative to input.
- Economists assess how resources create valuable outputs.
Time-Saving Technologies
- Technologies often improve productivity by saving time, like washing machines.
- The just-in-time manufacturing revolution also increased efficiency.