AI productivity gains might finally show up in US economic data starting next year, according to Lazard's investment strategist Ron Temple. The timing matters—if productivity growth accelerates as expected, it could reshape how markets price risk and returns across asset classes. Temple's take suggests we're still in the window where AI capabilities are building, but actual measurable impact on national productivity metrics remains to be seen. This kind of inflection point historically triggers significant portfolio repositioning among institutional players watching macro cycles.