Artificial intelligence (AI) could be a rising tide that lifts the world economy.
Artificial intelligence (AI) could be a rising tide that lifts the world economy.
The artificial intelligence (AI) trade is the central driving force of the U.S. stock market. Major U.S. tech companies are investing hundreds of billions of dollars to develop leading-edge AI models and hopefully create the must-have, must-use business productivity tools of the future.
But one big question in the stock market right now is, "Who will be the biggest winners of AI?" A new survey of economists from the Financial Times, published Oct. 17, found that the answer might be everyone.
Let's look at what the data might mean for the future of international stocks -- and how it might affect your investments.
Who will lead the future of AI? Maybe not just America.
There are a lot of strong opinions and extreme predictions about the future of AI.
Some tech executives have warned that AI could soon destroy most jobs, or could even lead to human extinction. Other industry critics worry that, even if it doesn't destroy lots of jobs, AI will contribute to wider inequality and disparities in the economy -- especially if the biggest gains and profits from AI go to the types of companies and workers who were already highly successful and highly paid.
And for stock investors, there's a fundamental question of how to invest for the future of AI. Will the biggest profits of AI go to the AI stocks of the tech-heavy Nasdaq-100 or will AI benefit the "non-AI" economy in more widespread ways?
The Financial Times survey of economists shows that the future of AI could be more hopeful than the skeptics and doomsayers predict. The poll found that 54% of economists believe AI will deliver significant gains in economic growth and productivity in the next 10 years. And those gains will go not just to the U.S. and China (where many of today's leading AI models are being developed), but to many or nearly all nations of the G20.
If the economists surveyed by the Financial Times are on target, this is a good sign for the world economy and for international stocks. AI won't necessarily just be a good thing for the AI stocks of companies that are building the AI tools and solutions of the future; AI could make everyone a bit richer. The gains could go to a wide range of companies, sectors, and countries.
Averytin News Financial update.