When 42-year-old Jacob Trigg lost his job as a project manager in the tech industry he didn't think it would take too long to find a new one - he always had before.
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The Penn-Wharton model found in a preliminary analysis that AI could reduce deficits by $400 billion by 2035. But the Congressional Budget Office framed AI and associated investment as wild cards in determining the U.S. fiscal and economic outlook. While the CBO projects AI will enhance total productivity by 1% in the next decade, its most recent budget report conceded that this prediction was “highly uncertain.” If adoption is slow or costs higher than anticipated, it would significantly alter GDP growth and, consequently, government revenue.
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