"Sister Wood": Artificial intelligence has improved labor productivity

PANews reported on March 17 that Casey Wood, Chief Investment Officer of ARK Investment Management, stated that artificial intelligence has already improved labor productivity and will deliver even more significant revenue gains over the next decade. Non-agricultural productivity has already increased by 2.8% year-on-year, but the application of new AI tools is expected to boost that growth to around 6% annually. The productivity gains from these large language models are astonishing. She added that even “former skeptics” within her company are “quite amazed” by their performance. Wood pointed out that revenue growth for leading AI model providers has been remarkable, with Antopi's annualized revenue reaching $19 billion and Opney's revenue growing from $20 billion to $25 billion. She said, “Over the next five to ten years, we expect to see $10 trillion to $12 trillion in revenue growth from our current near-zero levels. This will have a significant impact on GDP.”