Barclays says AI is not boosting productivity

Industry
โดย The Telegraph·Read original
Summary · why it matters

Barclays analysts said evidence that artificial intelligence makes workers more productive is unconvincing, with industry-level data showing little link between AI adoption and stronger productivity growth. The bank found that US industries embracing AI have not seen larger improvements relative to their pre-AI trends, and noted that most households and businesses still report limited exposure to the technology. The findings add to concerns about a potential AI-driven stock market bubble, following last week's US market crash over doubts that trillions in AI infrastructure spending will pay off. Examples of pullback include Uber limiting employees to $1,500 in monthly token spending per AI coding tool, Klarna resuming human hiring after an AI-fueled hiring freeze, and Meta's CEO admitting mistakes in its AI workforce transformation. Federal Reserve Chairman Kevin Warsh has called AI the most productivity-enhancing wave of our lifetimes and structurally disinflationary, but Barclays said such hopes have not materialized, while JPMorgan's chief global strategist noted AI may be adding slightly to inflation in the short run.

Impact on stocks 6

Digital Finance & Tokenization▼ · 2 stocks
Klarna Group plc
KLAR
▼ NegativeDemandrelevance

Klarna resuming human hiring after an AI-fueled hiring freeze suggests AI adoption is not delivering expected productivity gains, reducing demand for its AI services.

Artificial Intelligence▼ · 2 stocks
Meta Platforms Inc.
META
▼ NegativeTechnologyrelevance

Meta's CEO admitted mistakes in its AI workforce transformation, indicating challenges in AI implementation.

Robotics & Physical AI▼ · 1 stocks
Uber Technologies Inc
UBER
▼ NegativeDemandrelevance

Uber limiting employees to $1,500 monthly token spending per AI coding tool signals reduced investment in AI, potentially lowering demand for Uber's AI-related services.

Financials▲ · 1 stocks

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