Understanding the Economic Impacts of AI Technology: Deflationary and Inflationary Effects
Soren Azorian
· Follow 4 min read·3 hours ago AI Technology’s Economic Impacts: > Deflationary Impacts: Increased Productivity : AI automates routine tasks, optimizes processes, and improves decision-making, leading to higher productivity and lower production costs. These savings can be passed on to consumers at lower prices. Cost Reduction : AI-driven automation reduces the need for human labor, decreasing labor costs. AI also streamlines supply chains, reduces waste, and improves inventory management, further lowering costs. Reduction in Employment Costs : Automation of repetitive tasks allows […]
Full Post at medium.com