In our era of rapid technological transformation, Artificial Intelligence (AI) stands on the brink of becoming a powerful general-purpose technology (GPT) akin to electricity or the steam engine. These foundational technologies fundamentally reshape industries and redefine society by following an evolutionary trajectory that moves from small improvements to system-level change. History shows us that realizing the full potential of GPTs demands both an understanding of their progressive phases and a forward-thinking mindset, especially to avoid the productivity lags that have plagued previous technological revolutions.