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The Economist's @econcallum explains why AI is still delivering virtually zero bottom-line gains for businesses, despite Silicon Valley's belief that anyone can adopt it with a browser: "Being here in Berkeley or San Francisco, we massively overestimate how much knowledge there is of AI across the economy. Most people do not use AI basically at all." "Most ChatGPT queries are like, ‘Give me a recipe for tomato sauce.’ It’s not, ‘How do I convert on customer outreach 15% faster?’" "The…
MTS@MTSlive3h ago
FULL INTERVIEW: The Economist's Callum Williams says only about 25% of American businesses use AI four years in, when most people in 2023 would have bet on nearly all of them. Ask CFOs what AI has done for their bottom line, and he says it "basically balances to zero." @econcallum is the senior economics writer at @TheEconomist. He joined @theojaffee and @schisofrenia to lay out why AI hasn't changed the economy yet and the signal he's watching for: 00:50 why AI hasn't changed the economy yet 01:38 why AI spread slower than the internet in business 03:05 why a laptop and ChatGPT isn't enough 04:20 the CFO surveys where AI's impact balances to zero 04:49 why cost will decide how fast AI spreads 06:11 the 25% stat, and the labor market signal he's watching 08:30 whether AI layoffs are real or just an excuse 09:43 robot McDonald's vs a fast food labor shortage 10:28 the COVID robot predictions nobody apologized for 11:55 the economic doom predictions that did come true
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