AI Solutions — a virtuous growth cycle
“AI Could Solve The Inflation And Growth Problems Of The World Economy — A Bullish Trend For Bonds And Stocks”
February 23, 2024 —
Running Point and I were quoted today by International Business Times in an article — by Panos Mourdoukoutas, PhD with the above title — regarding artificial intelligence and following NVIDIA’s blowout earnings report Wednesday.
Transformative growth has happened before, notably during the Industrial Revolution when annual growth went from an estimated 0.3% to decades with between 3% and 6% growth. Will we see a 10x to 20x hockey-stick increase in our annual growth rate because of AI? That might be pushing it, but even a much more modest 0.5x to 2x could propel some sluggish developed economies into a significantly higher emerging market growth range.
While there are concerns about job displacement, AI-driven growth can create new job opportunities, particularly in roles that require AI expertise and those that complement AI technologies as well as in new fields and breakthrough inventions and medicines created with the help of AI ingenuity.
AI innovation also has the potential to help us more effectively address societal challenges, improve quality of life, and drive progress in areas such as education, transportation, and environmental sustainability.
Additionally, as excited as I am for AI, it is nothing compared to what is instore for us once #quantum #computing can function at scale in the next decade or two. AI will help us achieve quantum computing faster and for those searching for a long-term virtuous growth cycle, the marriage of #qubits (quantum computing) and AI is it! AI is a giant step; AI and qubits is the entire escalator.
“AI is a giant step; AI and qubits is the entire escalator.” ~~ Michael Ashley Schulman, CFA
Article excerpt is below:
“Generative AI technologies have the potential to fuel economic growth by enabling healthcare services, consumer interactions, and businesses to improve efficiency, reduce costs, and innovate to produce better outcomes through personalization and proactive responsiveness,” added Michael Ashley Schulman, CFA, Partner & Chief Investment Officer, Running Point Capital Advisors.
👨🏽💻👩🏽💻⚙
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