Structural prosperity accompanied by challenges: How AI impacts macroeconomics and policy

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[Caixin] In 2022, generative artificial intelligence (AI) represented by ChatGPT suddenly emerged and has become one of the biggest variables in the future global economy.

Both academia and industry have high hopes for AI, believing that AI will significantly improve productivity levels and elevate the current world economic growth to the next level. However, current data and research indicate that macroeconomic growth driven by AI has not yet materialized, and in the medium to long term, the prosperity brought by AI will also be accompanied by many structural challenges. On one hand, AI drives uneven productivity improvements; on the other hand, it impacts the labor market. The balance between these two will largely determine the future development path of the global economy and will also impact monetary and social policies.

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