U.S. Bureau of Labor Statistics data shows that investments in software, a key component of artificial intelligence, have risen sharply in the current business cycle. Total factor productivity climbed 1.1 percent between 2019 and 2024, reflecting how businesses use capital to boost output. Private‑business capital investment from 2019 to 2024 outpaced the 2007–2019 cycle, but growth was uneven: equipment investment slowed while intellectual‑property products surged. Within that category, software outpaced research and development and artistic‑originals. In the publishing sector (excluding the Internet), investment in pre‑packaged and own‑account software more than doubled in 2022 and remained strong through 2024. The rapid software‑investment growth is seen as a sign of increasing AI adoption in production.
Source: Bureau of Labor Statistics (BLS).
Materials reproduced from www.bls.gov.
No endorsement by BLS is implied.
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