Keep your wits about AI’s heady possibilities
Analysts are falling over themselves trying to work out AI’s productivity and earnings implications, but at this stage anything they say just an educated guess.
Over the first half of this year the US’s tech-heavy NASDAQ index had one of its best starts to a year, rising 32 per cent, with even the much broader S&P 500 increasing by a barnstorming 17 per cent – despite most economists forecasting a US recession.
A key component was the excitement generated around artificial intelligence. Indeed, investment bank Societe Generale calculated that with AI-related stocks stripped out, the S&P 500 was only up by about 2 per cent over those six months.
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