Nobel Prize Winner Warns AI Cannot Restore Western Economies to High Productivity Growth

According to Jin10, 2010 Nobel Prize-winning economist Christos Pisarides warned on July 7 that artificial intelligence will not restore Western economies to periods of high productivity growth, which may be permanently lost. Pisarides stated that approximately 40% of jobs in the U.S. and U.K. will remain largely unaffected by AI, citing sectors such as care work and hospitality. He noted that while tech companies and governments hope AI will revive growth rates that have significantly slowed in recent decades, there is currently little evidence that the technology will deliver productivity improvements. Pisarides questioned claims by executives like Nvidia CEO Jensen Huang and OpenAI founder Sam Altman about AI's transformative impact on employment, expressing skepticism about whether AI will replicate the computing boom of the 1980s and 1990s.
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