90% of US Executives Say AI Hasn't Affected Employment or Productivity in Past Three Years
Summary
A survey by the National Bureau of Economic Research found that over 90% of corporate executives admitted that AI has not affected their company's employment in the past three years, and about 89% said AI has had no impact on productivity at all. Despite AI's limited impact on productivity, companies continue to lay off workers, using AI as a justification. Professor Mark Ma from the University of Pittsburgh argues this may backfire, as layoffs worsen employee attitudes toward AI, reducing productivity.
Bubble analysis
This news directly challenges the core logic of AI investment—that AI significantly boosts productivity. If even executives admit AI has no impact on productivity, then massive AI capex lacks revenue growth support, which is a key argument for the bubble thesis.
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