By Jim O'Neill, Project Syndicate | September 23, 2025
Editor’s Note
Artificial intelligence dominates headlines, markets, and political speeches. Yet as former UK Treasury official Jim O’Neill reminds us, hype alone does not make an economy more productive. His essay poses a sharp question: Are today’s record AI investments serving society’s needs in health care, education, and fiscal stability, or merely enriching a few firms? For U.S. readers, the warning is clear: unless AI boosts productivity where it matters most, the billions invested may be wasted.
If all those pushing AI want it to serve society, they should develop a serious, clear, evidence-based plan to ensure that the technology contributes to productivity growth where it is needed most. Otherwise, we all must ask what the current massive sums of investment are for.
