A new report from Unleash Prosperity, titled 'Boomsday Not Doomsday,' contends that artificial intelligence (AI) could trigger the single greatest productivity revolution in American history, provided that Washington does not impose premature regulatory measures that could stifle innovation [1]. Stephen Moore, co-founder of Unleash Prosperity, emphasized that AI has the potential to make expertise more affordable, expand access to services, and raise living standards across the board [1].
The report highlights several sectors where AI could drive significant improvements, such as enabling doctors to spend more time with patients, allowing teachers to personalize lessons, reducing construction delays, improving manufacturing quality, and equipping small businesses with advanced tools [1]. Moore specifically noted that AI could cut the cost of building a home in half, which would address housing affordability concerns by making homeownership more accessible [1].
While critics have raised concerns about AI-related risks—including job losses, cyberattacks, disinformation, and misuse by malicious actors—the report argues that such fears are reminiscent of those that accompanied past technological breakthroughs like tractors and computers [1]. Moore pointed to the transformation of the agricultural workforce as an example, noting that although the percentage of Americans working in agriculture dropped from nearly 40% in 1900 to less than 2% today, overall food production increased and workers transitioned to higher-value roles [1].
The report asserts that AI adoption is progressing more rapidly than previous technological revolutions, with more than half of U.S. adults having used generative AI within three years of its introduction [1]. It concludes that the focus should be on the substantial benefits AI can deliver, rather than on speculative fears about its risks [1].
CONCLUSION
The Unleash Prosperity report presents a strongly optimistic outlook on AI's potential to drive unprecedented productivity gains and improve living standards, provided regulatory overreach is avoided. While acknowledging concerns about risks, the report maintains that historical precedent suggests technological advances ultimately create more jobs and economic opportunity. The market takeaway is that AI could be a major driver of future growth if policy remains supportive.