AI also has at least one obvious economic utility right now. It significantly improves productivity for software engineers. I'd say that with the latest crop of LLMs you can about double the productive output of an experienced developer without sacrificing quality (and literally 50x it if you only care about features getting delivered).
The questions are:
- Does it cause stupid lay-off games or a productivity boost?
- Does it cause a slide-back to fossil fuels or accelerate renewables?
- Is it used for non-productive brainrot?
You can guess how those three questions are answered by USA and China.