AI is about to fundamentally transform our economic system in ways that are comparable to the Industrial Revolution. Just as that earlier transition moved us from the Middle Ages to our modern industrial economy, AI will usher in an entirely new economic paradigm. The technology is rapidly advancing, with the potential to automate both cognitive and physical work across virtually all sectors. Still, there is significant uncertainty about the timeline and extent of these changes. Some experts predict transformative advances within the next year or two, while others expect more gradual changes, in a range of five to 10 years from now. What’s clear is that AI is already affecting productivity and starting to affect labor markets and financial systems.
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