Skip to main content

Chapter 1: AI – What’s all the fuss about?

Given its wide range of potential applications, the new breed of machine learning techniques and generative AI would appear to have all the characteristics to become a standalone general-purpose technology (GPT). In the next phase of AI innovation, we expect smaller firms to lead the way developing tools that integrate the new technology into workflows via new applications and add-ons to existing software. Generative AI, and large language models (LLMs) in particular, have the potential to revolutionise how cognitive tasks are performed by knowledge workers mostly, but not exclusively, in the services sectors.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services

Get access