CEPR paper: AI investment now drives productivity growth by building organization capital
soumitrashukla9 · x · 2026-09-03
CEPR Discussion Paper DP21894 by Tania Babina, Alex He and Renhao Jiang (University of Maryland) uses a new firm-level measure of AI investment based on AI-skilled employment, spanning ML to generative and agentic AI.
- AI investment is associated with productivity growth in recent years, but not in the previous decade
- The gains trace to accumulation of organization capital: durable firm-specific knowledge built through learning-by-doing
- The authors construct a novel organization capital measure from workers' job descriptions
- Productivity gains are driven by AI-skilled jobs that build organization capital
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