Artificial Intelligence Driving Productivity and Wages, PwC Study Shows
Key Points:
- A recent study by PwC has revealed that sectors heavily reliant on artificial intelligence (AI) are experiencing a significant increase in productivity.
- The study found that productivity growth in sectors with high AI penetration was almost five times faster than in sectors with lower AI exposure.
- Employers in the UK and 15 other countries included in the study are willing to pay a 14% wage premium for jobs that require AI skills.
- These findings have boosted hopes that AI could provide a much-needed boost to the global economy, which has seen low growth for the past 15 years.
Final Thoughts:
While the use of AI in various sectors has raised concerns about job displacement, this study brings some positive news. The increased productivity and higher wages associated with AI-reliant industries indicate the potential benefits that AI can bring to the global economy. Rather than fearing the rise of AI, it is important to embrace its potential and explore ways to integrate it effectively into different industries. As the saying goes, “If you can’t beat them, join them” — or in the case of AI, “If you can’t outsmart them, work alongside them.”
As part of this experiment I would like to give credit where credit is due. If you enjoy these, please take a moment to read the original article:
https://www.theguardian.com/technology/article/2024/may/21/productivity-soars-in-sectors-of-global-economy-most-exposed-to-ai-says-report
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Response: AI Boosting Productivity and Wages: PwC Study Shows Promising Trends
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