The conversation between human and AI assistant.
Why is productivity important to a society's development?
Yes, please. Has there been any research done on the relationship between productivity and economic growth?
Yes, there has been extensive research conducted on this topic. According to a study by the Organization for Economic Cooperation and Development (OECD), improvements in labour productivity can increase economic growth by as much as 5% annually. Productivity gains can also help to improve a nation's overall competitiveness in the global market.