OpenAI CEO Sam Altman has started to revise his view of AI’s effect on the economy. His latest take is that the disruption is real, but it’s moving more slowly than a lot of people in Silicon Valley expected.
Altman says the tools are getting better fast. Companies and consumers aren’t changing at the same pace, though, because workflows, compliance requirements, legacy software, and plain old habit still slow adoption.
Since OpenAI released GPT-4 in 2023, chatbots, coding assistants, and automation tools have spread widely. But most of that integration still runs shallow. One widely cited industry estimate says about 78% of organizations use AI in at least one function, yet many of those deployments are still pilots or limited rollouts.
The main friction points seem to be organizational, more than technical. Some sectors, including writing, customer support, and software, are seeing higher output, but broader forecasts still put the U.S. productivity boost at only about 0.7% over the next decade.
If you were expecting an overnight economic revolution, this is the reality check. Investors are recalibrating after huge spending on chips, data centers, and software, some hardware names have reportedly pulled back, and there’s still no economy-wide wave of mass unemployment, only a slower reshaping of jobs and a steady shift in skills.
The same pattern shows up in euro-area data cited by the European Central Bank, or ECB.
Author: Julianne Omamos
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