I am very optimistic that AI will make big improvements in our lives. Imagine if wide spread adoption of AI could increase real US productivity growth from 1.4% to 1.5% (and thus real GDP growth from 1.9% to 2.0%). Over 20 years that would add 22% to per capita GDP. Imagine if AI could help companies produce higher quality products and services at lower prices. That would increase our quality of life. However, before AI can contribute to such improvements it needs to be able to retrieve reliable data and to make valid inferences from the data. In many cases, such as inferences regarding fiscal and monetary policy, the inferences, and even the data, will not be accepted by many people. We humans tend to accept theories early in life and to spend the rest of our lives interpreting data in such a way as to fit our theories.

Berkshire Hathaway FAQ

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