Generative AI, Managerial Expectations, and Economic Activity

For helpful comments, we thank Vineet Bhagwat, Jiayin Hu, Haibo Jiang, Sophia Kazinnik, Sophia Zhengzi Li, Dexin Zhou, and participants at the NBER Forecasting & Empirical Methods, China International Conference in Finance, Conference on Financial Economics and Accounting, Indian School of Business Summer Research Conference, Financial Intermediation Research Society Conference, Northern Finance Association, Society of Quantitative Analysts Conference, Fidelity Quantitative Research, Georgia State University, International Conference on Information Technology and Quantitative Management, McMaster University, Peking University, Rutgers University, University of Oxford, and Winter Institute of AISSEAI. All errors are our own. An earlier version of this paper was circulated under the title “Harnessing Generative AI for Economic Insights.” The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.