Industries utilizing artificial intelligence (AI) are experiencing significant productivity growth, while AI skills command higher wages. Financial services, information technology, and professional services sectors are seeing labor productivity growth nearly five times greater than industries with less AI integration. Jobs requiring AI expertise offer a considerable wage premium in major labor markets. AI could enable nations to overcome low productivity growth, leading to economic development, higher wages, and improved living standards. Job postings for AI-related positions are increasing rapidly, but skill development efforts are needed. Concerns over job losses due to AI are mounting, but studies show that employing humans remains cost-effective for most jobs.