Artificial Intelligence and Its Potential Effects on the Economy and the Federal Budget

Congressional Budget Office

No 60774, Reports from Congressional Budget Office

Abstract: Because artificial intelligence has the potential to change how businesses and the federal government provide goods and services, it could affect economic growth, employment and wages, and the distribution of income in the economy. Such changes could in turn affect the federal budget. The direction of those effects—whether they increased or decreased federal revenues or spending—along with their size and timing, are uncertain. In this report, CBO provides an overview of the channels through which the adoption of AI could affect the U.S. economy and the federal budget.

JEL-codes: D83 E20 E66 H20 J21 J23 J31 O31 O33 O38 (search for similar items in EconPapers)
Date: 2024-12-20
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