Chart is for illustrative purposes only. Past performance is not necessarily an indication of future results.
Despite the dot-com era equity sell-off between 2000-2002, underlying investments in digital infrastructure proved highly consequential. They helped lay the groundwork for productivity gains and permanently changed how companies operate. Artificial intelligence (AI) appears to be following a similar path today, emerging as a potentially transformative technology that could reshape how businesses and consumers interact and work.
Notably, early estimates of productivity growth during the internet buildout may not have fully captured its eventual impact, and later data revisions revealed gains that were stronger than initially estimated. While it remains too early to determine whether AI will follow a similar trajectory, current productivity data may not yet capture the full extent of its potential economic effects. This means the effects of AI on productivity could be underestimated, which could be positive for future growth.
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