BARRY EICHENGREEN
Generative artificial-intelligence models like ChatGPT will revolutionize the economy, though no one can say when. Equally important, no one can say where, though there is no reason why AI, like previous general-purpose technologies, shouldn’t produce widely shared net benefits.
BERKELEY – The first rule of forecasting, the financial journalist Jane Bryant Quinn once observed, is this: give them a forecast or give them a date; just never give them both.
So, here’s a not very bold forecast: Generative artificial-intelligence models like ChatGPT will revolutionize the economy. We just can’t say when.
Nor can we say where. Among the key questions lost amid the flurry of commentary on generative AI is which countries will benefit, and which will not.
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