Corporate America is talking about artificial intelligence more than ever, but a new analysis by Goldman Sachs reveals a stark divide between boardroom hype and macroeconomic reality.
In a research note analyzing fourth-quarter earnings, senior U.S. economist Ronnie Walker noted that discussions surrounding AI completely overshadowed what was fundamentally a strong quarter, with core corporate revenues (excluding the energy sector) growing by a robust 4.6% year over year. Amid this market fervor, Walker wrote, “We still do not find a meaningful relationship between productivity and AI adoption at the economy-wide level.” However, the data reveals a substantial hint of something bigger to come: a median reported productivity gain of around 30% for two specific, localized use cases.
