Nobody really knows what's next in AI, but one possible future is a world of surging demand for office space.

History shows that when technology makes something more efficient, we often use more of it, not less. This is known as Jevons Paradox. For example, when cars became more fuel-efficient, people didn’t drive less, they drove more. Much more.

Applied to AI, if it dramatically boosts white-collar productivity, the value of human labour will rise. That matters for offices. If returns to knowledge work increase, companies may invest more in collaboration and physical presence.

There are early signs this is happening: Salesforce is expanding its footprint at its namesake New York tower, adding more than 6,500 sqm to meet demand driven by the AI boom. PWC in their Global AI Jobs barometer found three times higher growth in revenue per employee, and that "AI is driving jobs growth in virtually every AI-exposed occupation – even for roles with high automation potential".

It's still early days, but the office sector might have more upside than many expect.