So this seems like very strong evidence for 2%+ productivity growth already from AI, which should similarly raise GDP.
If you actually take all the reports here seriously and extrapolate average gains, you get a lot more than 2%. Davidad estimates 8% in general.
The labour fraction of GDP is about 60% in the US now, and not all labour is cognitive tasks, and not all cognitive tasks have immediate payoff. Furthermore, people could use the time savings to work fewer hours, rather than get more done. So I would guess the productivity in cognitive tasks should be divided by something like 4 to get actual increase in GDP.
The labour fraction of GDP is about 60% in the US now, and not all labour is cognitive tasks, and not all cognitive tasks have immediate payoff. Furthermore, people could use the time savings to work fewer hours, rather than get more done. So I would guess the productivity in cognitive tasks should be divided by something like 4 to get actual increase in GDP.