U.S. vs. Europe: The new AI economic divide

AXIOS May 28, 2024
Courtenay Brown

Economists are debating how AI might reshape the U.S. job market and boost productivity growth in the decades ahead. But a new paper finds that such benefits will be harder to match across the Atlantic.

Why it matters: The result might be a widening divide in innovation and economic outcomes between the U.S. and continental Europe.

Driving the news: As it stands, the U.S. and Europe are on divergent paths for generative AI adoption, according to a new paper by the McKinsey Global Institute — a predictable result, given that most of the technology has been built in the U.S.

• “Automation technology has the potential to revive productivity, allowing economies to solve most of today’s labor market challenges,” the...

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