Why Is New Technology not Making Us More Productive?

<p>For years, corporate America has believed that cloud computing and artificial intelligence will fuel a surge in wealth-generating productivity. This conviction has resulted in a flood of venture capital and corporate spending. And, proponents argue, the payoff will not be limited to a small group of tech titans, but will spread throughout the economy, It has not yet occurred.</p> <p><br></p> <p>Productivity growth since the pandemic has averaged about 1% per year, consistent with the meager rate since 2010 — and far below the previous period of robust improvement, which lasted from 1996 to 2004, when it averaged more than 3% per year.</p> <p><br></p> <p>Economic growth does not occur solely through the addition of more capital and labor. Another important factor is a country's ability to create and commercialize innovation, which increases investment and worker productivity.</p> --- This episode is sponsored by · Anchor: The easiest way to make a podcast. <a href="https://anchor.fm/app">https://anchor.fm/app</a> --- Send in a voice message: https://anchor.fm/wayne-weathersby/message Support this podcast: <a href="https://anchor.fm/wayne-weathersby/support" rel="payment">https://anchor.fm/wayne-weathersby/support</a>