Declining productivity growth

Declining productivity is not simply a symptom of COVID-19 disruptions, post-COVID remote work and the great resignation. Historic economic data indicates that productivity has been undergoing decades long cycles of decline since about the industrial revolution. 

Although companies investing in generative-AI are betting on its potential boost to productivity, over the last decade workers have clocked in longer hours than ever before with little to no increase in output (equating to a net productivity decline). 

 

Source: Goldman’s chief economist just weighed in on the productivity debate—and says it’s been dropping for years before remote work came along (Fortune)

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