18:49 7 July 2026
Nobel laureate on AI: times of rapid productivity growth are over
Artificial intelligence may transform parts of the economy, but it is unlikely to trigger a new era of rapid productivity growth, according to Nobel Prize-winning economist Christopher Pissarides. He argues that there is currently little evidence that AI is significantly boosting productivity across entire economies and says its impact will be concentrated in selected sectors, such as finance.
Many jobs, especially those requiring direct human contact, including nursing and hospitality, may see limited productivity gains from AI. Pissarides believes expectations set by technology leaders are too optimistic and that advanced economies may need to accept that the era of fast productivity growth is over. However, Bank of England Governor Andrew Bailey remains more optimistic, saying AI could support growth over time.
(pb.pl)
