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The concept of transformative AI was first introduced by Holden Karnofsky in this blog post from 2016,
Roughly and conceptually, transformative AI is AI that precipitates a transition comparable to (or more significant than) the agricultural or industrial revolution.
Since then, multiple operationalizations of transformative AI have focused on growth in Gross World Product, with the most common figure being 30%. For example, see this question on Metaculus about when transformative growth will occur.