• Generative AI models like ChatGPT are creating a business opportunity for companies and investors.
• The impact of these models on workers and the economy is uncertain.
• Generative AI could help upskill less skilled workers and revitalize the workforce.
• Pursuit of human-like capabilities in AI models could lead to technologies that replace people with machines, driving down wages and exacerbating inequality.
• There is optimism that generative AI could greatly benefit businesses and improve workforce productivity. It could add trillions of dollars in economic growth in the US within a decade.
• The way we use the latest technology will determine whether we see a productivity boost similar to that from advances in semiconductors.