What is the real economic value of AI? — References (APA)
Valueships · May 2026 · 74 sources

1. Acemoglu, D. (2024). *The simple macroeconomics of AI* (NBER Working Paper No. 32487). National Bureau of Economic Research. https://www.nber.org/papers/w32487

2. Brynjolfsson, E., Rock, D., & Syverson, C. (2021). *The productivity J-curve: How intangibles complement general purpose technologies.* AEJ: Macroeconomics. https://www.aeaweb.org/articles?id=10.1257/mac.20180386

3. Crafts, N. (2002). *Productivity growth in the Industrial Revolution: A new growth accounting perspective.* Federal Reserve Bank of San Francisco. https://www.frbsf.org/wp-content/uploads/crafts.pdf

4. Gordon, R. J. (2016). *The rise and fall of American growth: The U.S. standard of living since the Civil War.* Princeton University Press. (US labour productivity — electric era and ICT baseline/revival; synthesis in FRBSF / NBER reviews.)

5. Hoover Institution. (n.d.). *Summary of English agrarian productivity estimates (post-1600 benchmark).* Desk synthesis for the historical productivity ladder (Part I).

6. David, P. A. (2001). *The transition to a new economy after the Second Industrial Revolution* (NBER Working Paper No. 8676). https://www.nber.org/papers/w8676

7. Federal Reserve Bank of St. Louis. (2025). *Generative AI and the future of work productivity.* https://www.stlouisfed.org/

8. Goldman Sachs. (2023). *Generative AI could raise global GDP by 7 %.* https://www.goldmansachs.com/insights/articles/generative-ai-could-raise-global-gdp-by-7-percent

9. Goldman Sachs. (2024). *Gen AI: Too much spend, too little benefit?* https://www.goldmansachs.com/images/migrated/insights/pages/gs-research/gen-ai--too-much-spend,-too-little-benefit-/TOM_AI%202.0_ForRedaction.pdf

10. Goldman Sachs. (2026). *Tracking trillions: The assumptions shaping the scale of the AI build-out.* https://www.goldmansachs.com/insights/articles/tracking-trillions-the-assumptions-shaping-scale-of-the-ai-build-out

11. International Monetary Fund. (2024). *AI will transform the global economy. Let's make sure it benefits humanity.* https://www.imf.org/

12. McKinsey & Company. (2023). *The economic potential of generative AI: The next productivity frontier.* https://www.mckinsey.com/capabilities/tech-and-ai/our-insights/the-economic-potential-of-generative-ai-the-next-productivity-frontier

13. McKinsey & Company. (2025, November). *The state of AI 2025: Agents, innovation, and transformation.* https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai

14. OECD. (2024). *Miracle or myth? Assessing the macroeconomic productivity gains from artificial intelligence.* https://www.oecd.org/

15. Stanford HAI. (2025). *Artificial Intelligence Index Report 2025.* https://hai.stanford.edu/ai-index/2025-ai-index-report

16. Stanford HAI. (2026). *Artificial Intelligence Index Report 2026.* https://hai.stanford.edu/ai-index/2026-ai-index-report

17. US Census Bureau. (2024). *Tracking firm use of AI in real time: A snapshot from the Business Trends and Outlook Survey* (CES-WP-24-16). https://www.census.gov/library/working-papers/2024/adrm/CES-WP-24-16.html

18. Bick, A., Blandin, A., & Deming, D. J. (2024). *The rapid adoption of generative AI* (NBER Working Paper). National Bureau of Economic Research.

19. Brynjolfsson, E., Li, D., & Raymond, L. R. (2023). *Generative AI at work* (NBER Working Paper No. 31161). National Bureau of Economic Research. https://www.nber.org/papers/w31161

20. Brynjolfsson, E., Li, D., & Raymond, L. R. (2025). Generative AI at work. *The Quarterly Journal of Economics, 140*(2), 889–942. https://academic.oup.com/qje/article/140/2/889/7990658

21. Choi, J. H., & Schwarcz, D. (2023). *AI assistance in legal analysis: An empirical study* (SSRN 4539836). https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4539836

22. Choi, J. H., Monahan, A., & Schwarcz, D. (2024). *Lawyering in the age of artificial intelligence* (SSRN 4626276). https://ssrn.com/abstract=4626276

23. Dell'Acqua, F., McFowland, E. III, Mollick, E. R., Lifshitz-Assaf, H., Kellogg, K., Rajendran, S., Krayer, L., Candelon, F., & Lakhani, K. R. (2023). *Navigating the jagged technological frontier* (HBS Working Paper 24-013). https://www.hbs.edu/ris/Publication%20Files/24-013_d9b45b68-9e74-42d6-a1c6-c72fb70c7282.pdf

24. Dillon, E., et al. (2025). *Microsoft 365 Copilot field experiment* (Harvard Business School).

25. Donati, D., et al. (2025). *AI and online retail productivity / sales uplift evidence* (arXiv preprint).

26. GitHub / Microsoft Research. (2023). *The impact of AI on developer productivity: Evidence from GitHub Copilot* (arXiv:2302.06590). https://arxiv.org/abs/2302.06590

27. METR. (2025, July). *Measuring the impact of early-2025 AI on experienced open-source developer productivity.* https://metr.org/blog/2025-07-10-early-2025-ai-experienced-os-dev-study/

28. MIT Generative AI Lab. (2025). *Copilot field experiment with Microsoft and Accenture.*

29. Noy, S., & Zhang, W. (2023). Experimental evidence on the productivity effects of generative artificial intelligence. *Science, 381*(6654), 187–192. https://www.science.org/doi/10.1126/science.adh2586

30. UK Government. (2025). *Microsoft 365 Copilot experiment: Cross-government findings report.* https://www.gov.uk/

31. BCG. (2025, June). *AI at work 2025: Momentum builds, but gaps remain.* Boston Consulting Group. https://www.bcg.com/publications/2025/ai-at-work-momentum-builds-but-gaps-remain

32. Microsoft. (2024, May). *Work Trend Index 2024: AI at work is here. Now comes the hard part.* https://www.microsoft.com/en-us/worklab/work-trend-index/ai-at-work-is-here-now-comes-the-hard-part

33. Microsoft. (2025). *Breaking down the infinite workday.* https://www.microsoft.com/en-us/worklab/work-trend-index/breaking-down-infinite-workday

34. PwC. (2025). *The fearless future: 2025 Global AI Jobs Barometer.* https://www.pwc.com/gx/en/services/ai/ai-jobs-barometer.html

35. Bain & Company. (2025). *Technology Report 2025: AI leaders are extending their edge.* https://s3.amazonaws.com/media.mediapost.com/uploads/BAIN_report_technology_report_2025.pdf

36. Bain & Company. (2025, September 23). *$2 trillion in new revenue needed to fund AI's scaling trend* [Press release]. https://www.bain.com/about/media-center/press-releases/20252/$2-trillion-in-new-revenue-needed-to-fund-ais-scaling-trend---bain--companys-6th-annual-global-technology-report/

37. MIT NANDA Initiative. (2025, August). *The GenAI Divide: State of AI in business 2025.* https://mlq.ai/media/quarterly_decks/v0.1_State_of_AI_in_Business_2025_Report.pdf

38. RAND Corporation. (2024). *The root causes of failure for artificial intelligence projects and how they can succeed.* https://www.rand.org/pubs/research_reports/RRA2680-1.html

39. American Medical Association. (2025). *AI scribes save 15,000 hours and restore the human side of medicine.* https://www.ama-assn.org/practice-management/digital-health/ai-scribes-save-15000-hours-and-restore-human-side-medicine

40. Mass General Brigham. (2026). *AI scribes linked to modest reductions in electronic health record use and clinical documentation time.*

41. McKinsey & Company. (2024). *Generative AI fuels creative physical product design but is no magic wand.*

42. McKinsey & Company. (2025). *Generative AI in healthcare.* https://www.mckinsey.com/industries/healthcare/our-insights/generative-ai-in-healthcare-current-trends-and-future-outlook

43. McKinsey & Company. (2025). *Manufacturing lighthouses — Capturing the full value of AI.* https://www.mckinsey.com/capabilities/operations/our-insights/how-manufacturings-lighthouses-are-capturing-the-full-value-of-ai

44. Thomson Reuters. (2024). *AI set to save professionals 12 hours per week by 2029.*

45. UCLA Health. (2025). *UCLA study finds AI scribes may reduce documentation time and improve physician well-being.* https://www.uclahealth.org/news/release/ucla-study-finds-ai-scribes-may-reduce-documentation-time

46. Amodei, D. (2024, October). *Machines of loving grace.* https://www.darioamodei.com/essay/machines-of-loving-grace

47. Amodei, D. (2025, May 28). Interview in Axios. *AI jobs danger: Sleepwalking into a white-collar bloodbath.* https://www.axios.com/2025/05/28/ai-jobs-white-collar-unemployment-anthropic

48. Anthropic. (2026, January). *Anthropic Economic Index report: Economic primitives.* https://www.anthropic.com/research/anthropic-economic-index-january-2026-report

49. Anthropic. (2026, March). *Anthropic Economic Index report: Learning curves.* https://www.anthropic.com/research/economic-index-march-2026-report

50. Anthropic. (2026). *Labor market impacts of AI: A new measure and early evidence.* https://www.anthropic.com/research/labor-market-impacts

51. Huang, J. (2024, March 19). Comments at GTC Conference. *AGI and hallucinations.* TechCrunch. https://techcrunch.com/2024/03/19/agi-and-hallucinations/

52. Huang, J. (2025, May 28). Comments at Milken Institute Global Conference. CNBC. https://www.cnbc.com/2025/05/28/nvidia-ceo-jensen-huang-youll-lose-your-job-to-somebody-who-uses-ai.html

53. Solow, R. M. (1987, July 12). *We'd better watch out.* New York Times Book Review.

54. Anderson, J. C., Narus, J. A., & Van Rossum, W. (2006). Customer value propositions in business markets. *Harvard Business Review, 84*(3), 91–99. https://hbr.org/2006/03/customer-value-propositions-in-business-markets

55. Bessemer Venture Partners. (2025). *The AI pricing and monetization playbook.* https://www.bvp.com/atlas/the-ai-pricing-and-monetization-playbook

56. Hinterhuber, A. (2004). Towards value-based pricing — An integrative framework for decision making. *Industrial Marketing Management, 33*(8), 765–778. https://users.metu.edu.tr/mugan/Hinterhuber%202004%20value%20based%20pricing.pdf

57. Hinterhuber, A., & Snelgrove, T. C. (2022). *Value first, then price: Building value-based pricing strategies* (2nd ed.). Routledge.

58. Stobierski, T. (2022). *A beginner's guide to value-based strategy.* Harvard Business School Online. https://online.hbs.edu/blog/post/what-is-value-based-strategy

59. Statista. (2024). *Revenue impact of AI in financial services* (Chart 1254724). https://www.statista.com/statistics/1254724/revenue-impact-of-ai-financial-services/

60. Statista. (2024). *Working hours impacted by generative AI in finance, by sector — Accenture data* (Chart 1558899). https://www.statista.com/statistics/1558899/working-hours-impacted-generative-ai-finance/

61. Statista. (2024). *AI fintech impact on profitability* (Chart 1617474). https://www.statista.com/statistics/1617474/ai-fintech-impact-on-profitability/

62. Statista. (2025). *Growth of labor productivity — AI adoption* (Chart 1378626). https://www.statista.com/statistics/1378626/growth-of-labor-productivity-ai-adoption-2023/

63. Statista. (2025). *AI impact on hourly rates-based pricing global* (Chart 1482387). https://www.statista.com/statistics/1482387/ai-impact-on-hourly-rates-based-pricing-global/

64. Statista. (2025). *Functional impact of generative AI worldwide* (Chart 1610445). https://www.statista.com/statistics/1610445/functional-impact-of-generative-ai-worldwide/

65. Statista. (2025). *Cost decrease by AI function* (Chart 1610952). https://www.statista.com/statistics/1610952/cost-decrease-by-ai-analytics-enterprise/

66. Statista. (2025). *Adoption of pricing models for agentic AI tools* (Chart 1620734). https://www.statista.com/statistics/1620734/adoption-of-pricing-models-for-agentic-ai-tools/

67. Statista. (2025). *AI task automation trends among employees globally — Capgemini, June 2025* (Chart 1619156). https://www.statista.com/statistics/1619156/ai-task-automation-trends-among-employees-global/

68. Statista. (2026). *AI impact on profitability in finance worldwide* (Chart 1661254). https://www.statista.com/statistics/1661254/ai-impact-on-profitability-in-finance-worldwide/

69. Statista. (2026). *AI impact on profitability in financial services by characteristics* (Chart 1661255). https://www.statista.com/statistics/1661255/ai-impact-on-profitability-in-finance-worldwide-by-characteristics/

70. Statista. (2026). *AI impact on workforce in last 3 years — finance worldwide* (Chart 1661260). https://www.statista.com/statistics/1661260/ai-impact-on-workforce-in-last-three-years-finance-worldwide/

71. Statista. (2026). *Big Tech AI spending to reach $725 billion in 2026* (Chart 35046). https://www.statista.com/chart/35046/capital-expenditure-of-meta-alphabet-amazon-and-microsoft/

72. Wilczyński, M. (2026, May). *The Valueships Historical Productivity Ladder.* Valueships proprietary framework.

73. Wilczyński, M. (2026, May). *The Valueships Value Equation and the AI Value Index (AVI).* Valueships proprietary framework.

74. Wilczyński, M. (2026, May). *The AVI Pricing Quadrant™.* Valueships proprietary framework.

75. Stern, J. M., Stewart, G. B., & Chew, D. H. (1995). The EVA financial management system. *Journal of Applied Corporate Finance, 8*(2), 32–46. https://doi.org/10.1111/j.1745-6622.1995.tb00295.x