Artificial intelligence is advancing at startling speed. The latest models can now complete complex, hours-long tasks with little human supervision. This month one of OpenAI’s models helped derive a new result in theoretical physics. No wonder an essay declaring that “Something Big is Happening” and, in recent days, a blog post of a similar tenor from Citrini Research, a firm of analysts, have gone viral.
Is something big happening to the economy, too? Scott Bessent, America’s treasury secretary, predicted last year that AI would soon start “biting” – meaning that it would lead to noticeable improvements in productivity. Kevin Warsh, President Donald Trump’s nominee to lead the Federal Reserve, is counting on an AI-driven productivity boom to help tame inflation.
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The Economist