The Bureau of Labor Statistics reported this month that employment in “information,” a rough proxy for the tech sector, has declined 11% from a peak in 2022.
GDP rose at an annual rate of 2% from January to March, according to data out today from the Bureau of Economic Analysis. A big reason why: investment in AI.
Tech companies heavily subsidized AI use in the early days. But now, particularly with the advent of AI agents, spending on AI can start to rival employees’ salaries.
The area around Albuquerque has long been a hub for scientific and technological development. This appears to be true for AI, too, but the full picture of this regional economy is much more complex.