Goldman Sachs senior global economist Joseph Briggs argues that current AI spending levels are sustainable, despite recent massive jumps in investments from tech giants like Apple (AAPL), Meta (META), and Alphabet (GOOGL), (GOOG).
Total AI spending in the U.S. currently remains below 1% of GDP, which Goldman Sachs considers modest when compared to prior infrastructure investment cycles. This level of spending is viewed as sustainable in the long term.
Goldman Sachs estimates that AI could generate up to $8 trillion in value and has the potential to elevate labor productivity by 15% once fully adopted across industries.
The firm expects to see measurable impacts on GDP starting around 2027, with growth in these effects continuing into the 2030s as AI adoption expands.
These insights highlight AI’s growing economic significance and the importance of continued investment in this transformative technology.
https://seekingalpha.com/news/4512471-ai-could-rase-u-s-labor-productivity-15-percent-meaningful-boost-to-gdp-starting-27-gs-briggs?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news
