Wendy’s menu boards. Ben & Jerry’s grocery store freezers. Abercrombie & Fitch’s marketing. Many mainstays of the American customer experience are increasingly powered by artificial intelligence. The question is whether the technology will actually make companies more efficient. Rapid productivity improvement is the dream for both companies and economic policymakers. If output per hour holds steady, firms must either sacrifice profits or raise prices to pay for wage increases or investment projects.
Will Artificial Intelligence Boost Productivity? Companies Sure Hope So.
The New York Times News Service Syndicate, Denver Post: Business
Sat, 04/13/2024 - 5:00am
Topics: american rapid jerome powell federal reserve john williams new york fed northwestern university chatgpt erik brynjolfsson stanford university ai he brynjolfsson s related articles teen has china founder cu s deming center boulder internet developer regal continental i-25 there s employees at walmart united states my assistant ai the do i donna morris walmart s tony spring macy s it s midjourney abercrombie s samir desai wendy s cherry garcia chunky monkey catherine reynolds unilever the ai deere ceo john may ii february skepticism ai s analysts vanguard joseph davis we re times economy now ben jerry s abercrombie fitch fitch s ai new york gordon the technology u.s walmart the the i walmart spring ceo i ai companies hope boost productivity company generative prices marketing descriptions freezers write workers year efficient growth herbicide news work chief million increase interview lot questions firms tool economists products based software ways ice potential improvements financial run parent human pints saved cream answer game-changing menu fact specifically boards inventory applications profits wage data pay hour grocery figure experience optimistic large broad images technologies weeds economist transformative cameras lift equipment years meant allowing thinks website officer impact quickly latest people reduce helps app digital clear
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