Time-lag implementation in the regression also showed a delay of three years between the point of AI adoption and return on productivity growth, indicating an investment delay for AI that could also explain previous literature gaps.

Fact of the Week: Large Firms Implementing Artificial Intelligence Enjoyed Additional Productivity Growth Within Just Three Years

Data from the National Center for Science and Engineering Statistics shows that 13.7 percent of firms who use artificial intelligence experienced an increase in total employment.

Fact of the Week: Over 13 Percent of Firms That Use Artificial Intelligence Have Expanded Their Workforce

AI-related publications increased 10 percent annually from 2005 to 2015, growing to 23 percent a year from 2015 to 2018.

Fact of the Week: AI-Related Publications Increased 23 Percent Annually Since 2015, More Than Double the Rate of the Prior Decade

Access to an AI-based conversational assistant increased customer service productivity by an average 13.8 percent at Fortune 500 companies. 

Fact of the Week: Access to an AI-Based Conversation Assistant Increased Customer Service Productivity by 14 Percent on Average

A recent paper for the National Bureau of Economic Research found customer support agents using an AI tool to guide their conversations saw a nearly 14 percent increase in productivity.

Fact of the Week: Customer Support Agents Using an AI GPT Tool Saw a Nearly 14 Percent Increase in Productivity 

The costs and complexities of AI suggest that it is easier and more economical for larger firms to use.

Fact of the Week: Firms With More Than 1,000 Employees Are 10 Times More Like to Use AI Than Firms With 5 to 10 Employees

A report finds that firms that are 125 miles from the closest AI hotspot, defined as an area with over 1000 AI publications or patents, experienced 17 percent lower AI job growth between 2007 and 2019.

Fact of the Week: Commuting Areas Far From AI Hotspots Experienced 17 Percent Lower Growth in AI Jobs

Low-productivity firms that may find themselves lagging in today’s economy have the opportunity to catch up to frontier firms by increasing their investments in software to build a digital presence for consumers and to digitally streamline workplace operations.

Fact of the Week: Software Is the Best Capital Investment Low-Productivity Firms Can Make to Spur Labor Output

U.S. businesses and universities developed 75 percent of all global patents in artificial intelligence from 2000 to 2016, writes John Wu in Innovation Files.

Fact of the Week: Firms Investing More in AI Experienced Roughly One Additional Percentage Point of Productivity Growth Per Year

Related

Fact of the Week: Large Firms Implementing Artificial Intelligence Enjoyed Additional Productivity Growth Within Just Three Years

Fact of the Week: Over 13 Percent of Firms That Use Artificial Intelligence Have Expanded Their Workforce

Fact of the Week: AI-Related Publications Increased 23 Percent Annually Since 2015, More Than Double the Rate of the Prior Decade