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Discussion Paper
Capital and AI Investment in the Fifth District
According to the Bureau of Economic Analysis, much of the recent growth in private sector investment in the U.S. economy has been technology related, from investment in information processing equipment and intellectual property products to exponential growth in data centers. In addition, many firms have been spending on services like subscriptions or training to determine how they can best employ artificial intelligence (AI) technology. In June, we asked over 250 firms in the Richmond Fed's Fifth District about their capital investment, AI adoption, and factors such as employment and prices. ...