BAC research note argues AI’s eventual economic contribution may exceed today’s near-zero GDP impact by tenfold.
Bank of America analysts contend that artificial intelligence’s current contribution to economic growth is negligible, rounding to nearly zero in GDP data. The bank’s late-May research note highlights a disconnect between AI’s widespread hype and its minimal measurable impact on productivity or wages so far.
The note compares AI’s potential to past transformative technologies but argues its eventual productivity gains could surpass electricity or the internet. Analysts project a future boom up to ten times larger than today’s economic indicators reflect, though the timeline remains uncertain.
Despite skepticism, BAC maintains that AI’s long-term effects will materialize, urging investors to look beyond short-term data gaps.