Artificial intelligence has the potential to significantly boost economic growth rates through its role as a capital-labor hybrid and its ability to accelerate innovation. AI can drive growth via three mechanisms: intelligent automation by adapting to automate complex tasks at scale, labor and capital augmentation by helping humans focus on higher value work and improving efficiency, and innovation diffusion by generating new ideas and revenue streams from data. For economies to fully benefit from AI, governments must prepare citizens and policy for integration with machine intelligence, encourage AI-driven regulation, advocate ethical guidelines for AI development, and address potential redistribution effects of job disruption.