Optimistic and pessimistic views

Sceptics like economist Robert J. Gordon states that today's artificial intelligence is mainly a pattern recognition technology. While its feats are impressive, it is not transformational in the way electricity and the internal combustion engine were.

Others are more optimistic about productivity from innovations like cloud computing and artificial intelligence. Erik Brynjolfsson, director of Stanford University's Digital Economy Lab, says that while the productivity pickup is not yet evident, it may be just a matter of time.

Economies grow not only by adding capital and labour. Another vital ingredient to economic growth is the ability to commercialise innovation, which makes investment and workers more productive. A small percentage gain in productivity can significantly impact a country's wealth over time. 

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