What was claimed
AI will automate limitless gains in productivity (shorthand for limitless corporate profits)
Our verdict
InaccurateThe cited research shows bounded gains, with estimates expressed as ranges rather than unlimited growth. McKinsey also notes productivity gains are often eroded by competition and do not usually expand profit pools durably. While some productivity gains do increase corporate profits, historical data shows productivity has grown 3.5x faster than worker pay since 1979, with gains concentrated among higher-paid workers and corporations—not a simple equivalence.
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Key findings
AI will automate limitless gains in productivity (shorthand for limitless corporate profits)
Productivity gains equal corporate profits (shorthand equivalence)