BofA research finds AI currently lifting macroeconomic productivity by approximately 0.1% per year, with gains visible in narrow corporate tasks but not yet scaling economy-wide

BofA Global Research released a report on Friday showing AI integration currently lifts aggregate macroeconomic productivity by approximately 0.1% per year, despite widespread corporate adoption for individual workflows.

The technology demonstrates distinct productivity gains in highly specific, well-defined corporate tasks, but these local increases have yet to scale sharply across the broader domestic economy. BofA Securities economists attribute the slow macroeconomic translation to delayed corporate adoption timelines, persistent skills gaps among the workforce, and institutional organizational constraints.

Long-term projections suggest the structural impact could scale by a factor of ten: if AI successfully broadens its task capabilities, penetrates diverse industry sectors, and achieves lower cost thresholds, macroeconomic productivity gains could rise by up to 1.0% per year over the next decade, potentially elevating long-term global GDP growth up to a 4.5% annualized pace.