Our new @nberpubs paper is out:

"Advanced Technologies Adoption and Use by U.S. Firms: Evidence from the Annual Business Survey".

We report on the adoption of AI, cloud computing, robotics and the digitization of business information at 850,000 firms.
@nberpubs We find that digitization is quite widespread, as is some use of cloud computing.

In contrast, advanced technology adoption is rare and generally skewed towards larger and older firms.
@nberpubs Adoption patterns are consistent with a hierarchy of increasing technological sophistication, in which most firms that adopt AI or other advanced business technologies also use the other, more widely diffused technologies
@nberpubs While few firms are at the technology frontier, they tend to be large so technology exposure of the average worker is significantly higher.
@nberpubs The coauthors on this paper were Nikolas Zolas, Zachary Kroff, Erik Brynjolfsson, Kristina McElheran, David N. Beede, Cathy Buffington, Nathan Goldschlag, Lucia Foster & Emin Dinlersoz.

It was great working with the US Census Bureau to design the survey and collect the data.

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More from @erikbryn

2 Mar 19
A thread about my new @nberpubs paper with @sethbenzell:

Digital innovation is delivering remarkable progress.

Yet returns to ordinary labor (Median wages) and ordinary capital (interest rates) are both historically low. 1/n
@nberpubs One research literature addresses low median wages and falling labor share.

A completely different literature seeks to explain low interest rates and lack of capital investment.

We explain both of these sets facts with one model.

@nberpubs Our story:

Digital technologies augment both labor and capital by creating digital versions of them.

But rather than translating directly into growth, K and L both need a third factor: G.

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