Productivity is not value. It's quite possible for you to experience productivity improvements, and actual value to not be created. That is what I think the most robust data is showing.
Also, supposed productivity gains are dubious. I personally experience at best no productivity gains when using LLMs to write code, and sometimes it's an active drain on my productivity. There was that one study a year or so ago showing similar results. People are trying to say the productivity gains are there and undeniable, but that is not true. It is very much a subject of controversy whether AI helps productivity.
That report doesn't match what faros.ai conclude which is mostly a paywalled report.
That's possible, sure. But I think the answer is more likely in the numbers, not in just qualitatively saying AI isn't worth anything. Like if I pay $30k for an ounce of gold, I got value. Gold is worth something. But that amount of gold wasn't worth what I spent.
EDIT: In fact, parent comment has a link to some numbers.
[EDIT: Most] people don't want to go through the numbers. Ok. But there's a history here. When people don't want to see the numbers, certain kinds of things tend to happen.
From an economic perspective productivity is defined as the creation of value isn't it? Then if you "improve productivity" and does not create value in the end you're no improving productivity at all.