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Impact of AI on the economy

From Bonney et al. (2024):

Using a new large-scale business survey by the U.S. Census Bureau, we find that AI use is having a much greater impact on worker tasks than on employment levels at the firm level. About 27% of firms using AI report replacing worker tasks, but only about 5% experience employment change due to AI use. These rates are expected to increase to nearly 35% and 12%, respectively, in the near future.

One key issue in all these surveys is defining what AI is. Does AI mean large language models? Machine learning? Any statistical analysis? Just using a computer? Computer scientists have their definition, but respondent may define AI very differently.

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