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Why new tech has not increased productivity yet
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The growth in productivity since the pandemic hit now stands at about 1 per cent annually.
PHOTO: REUTERS
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(NYTIMES) - For years, it has been an article of faith in corporate America that cloud computing and artificial intelligence (AI) will fuel a surge in wealth-generating productivity. That belief has inspired a flood of venture funding and company spending. And the payoff, proponents insist, will not be confined to a small group of tech giants but will spread across the economy.
It has not happened yet.
