Few people doubt that AI is among the most transformative technologies to emerge in the past century. By many measures, it is spreading faster and more widely than any innovation since the dawn of the Industrial Revolution. Steam engines came into common use in the nineteenth century and electricity in the early twentieth, but their full potential was not realized before the completion of railways, highways, and power grids decades later. Computers for business use emerged in the 1950s, but they gave no visible lift to the economy before the Internet connected them in the 1990s.

Commercial artificial intelligence, by contrast, appeared almost overnight on screens worldwide, at a moment when the overwhelming majority of humans already had access to a computer or smartphone. Less than four years after the release of ChatGPT, roughly 30 percent of Americans are now using AI , five times the share of Americans who were using smartphones, the Internet, or electricity at comparable stages of development.…