Rehann Silvanus

KEY TAKEAWAYS AI adoption among Eighth District firms is still in its early stages, with most reporting experimental or limited use of the technology. Nonadopters cite gaps in skills, data, technical infrastructure or business needs. Firms using AI report meaningful efficiency gains, especially through reduced time spent on administrative or routine tasks.

KEY TAKEAWAYS In The Wealth of Nations, Adam Smith outlined a relatively narrow economic role for government limited to duties like national defense, establishing a legal system and public works. In the 250 years since Smith’s work, the theories and models that economists use to study how government provides goods and services in the economy have developed breadth and depth.