eichengreen178_Mairo CinquettiNurPhoto via Getty Images_chatgpt Mairo Cinquetti/NurPhoto via Getty Images

Winners and Losers in the AI Arms Race

Generative artificial-intelligence models like ChatGPT will revolutionize the economy, though no one can say when. Equally important, no one can say where, though there is no reason why AI, like previous general-purpose technologies, shouldn’t produce widely shared net benefits.

BERKELEY – The first rule of forecasting, the financial journalist Jane Bryant Quinn once observed, is this: give them a forecast or give them a date; just never give them both.