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The Productivity Puzzle: AI, Technology Adoption and the Workforce, No. 24-25

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The Productivity Puzzle: AI, Technology Adoption and the Workforce, No. 24-25

DATE: August 2024

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In 1987, economist Robert Solow said, "You can see the computer age everywhere but in the productivity statistics." This quote underscores the challenges in tracing the effects of information technology and automation on productivity and the economy at large. Understanding the role of technology in labor productivity growth remains an ongoing quest in economics, one made even more pertinent by recent advances in artificial intelligence (AI) as well as the further adoption of generative AI and large language models (LLMs).

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Federal Reserve Bank of Richmond. "The Productivity Puzzle: AI, Technology Adoption and the Workforce, No. 24-25" in Economic Brief (August 2024). https://fraser.stlouisfed.org/title/6034/item/673093, accessed on November 30, 2024.

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