What will happen when AI sweeps through business? It will be just as profound as desktop computers or the Internet, and it will be just as insignificant for overall productivity.
Or will it
Digital computers pose significant challenges in quantifying and comparing their magnitude as capital. Capital that consists of computing devices is often (and here) called computer capital. The magnitude of computer capital can be measured with combinations of one of two basic strategies. The dominant method measures performance, with measurements that range from the simple Millions of Operations Per Second (MIPS) to complex indexes that attempt to also account for qualitatively new functions (e.g. hardware support for machine learning). Benanev (2020) explains how this method makes the production of faster and more sophisticated computers appear as if more computers are being produced. Conversely, computer capital can simply be measured by its market value, with appropri