AI is ushering in an all-round productivity explosion.

1. Companies are making more money without increasing their headcount. Microsoft, Meta, Google, and Spotify have seen continuous revenue growth, while the number of employees has remained the same or even decreased.2. Layoffs do not equate to business decline. Compared to the end of 2022, the actual output of the U.S. tech industry has increased by about 25%, while the number of jobs has decreased by about 10%, indicating a significant improvement in per capita output.3. The acceleration in productivity mainly occurs in the United States. In sectors where the U.S. has adopted AI more extensively, real per capita output has clearly exceeded historical trends.In the AI era, American companies are generating more output with fewer people, and the value of AI may be reflected in greater efficiency.