00:01
Okay, so we're going to explore from scenario 1, generative ai boosts productivity.
00:05
So we're going to see what happens to the adn as curve.
00:10
So as for as, the introduction of generative ai boosts productivity by improving efficiency and lowering production costs.
00:20
And so this shift is represented as a rightward shift in the as curve, which indicates an increase in output at every price level.
00:35
Now, as for aggregate demand, initially ad may not change, but as productivity gains translate into lower prices for consumers and higher incomes for some workers, consumption increases, which shifts the ad curve rightward.
00:57
Here the underlying mechanisms is the increased efficiency.
01:06
Automation of routine tasks and optimization of operations reduce the time and resources needed for production and also cost reduction.
01:20
Lower operational costs can lead to lower prices for goods and services, which benefits consumers, and also innovation.
01:29
Innovation.
01:29
So new products and services generated by ai can create new markets in demand...