ARK Invest CEO and CIO Cathie Wood says AI could trigger the biggest acceleration in global growth since the Industrial Revolution. She notes global real GDP growth rose from about 0.6% before the Industrial Revolution to 3% afterward, a fivefold jump. Repeating that fivefold jump would put global real growth at about 15%, her illustration shows.
Cathie Wood (ARK CEO and CIO): AI could trigger the biggest acceleration in global growth since the Industrial Revolution.
Before the Industrial Revolution, global real GDP growth was ~0.6%; afterward, it climbed to 5X 3%.
If this AI revolution repeated the Industrial Revolution’s fivefold jump, global real growth would be about 15%
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From "ARK Invest" YouTube channel, (full video link in comment)
The IMF just published its latest forecasts and it assume no extra productivity growth from AI, and the report finds that economy-wide data still show little effect on wages, jobs or measured productivity, despite gains on specific tasks. > The surge in AI hardware trade comes mostly from higher prices rather than more units shipped, and rising memory chip costs are already pushing up core-goods inflation in some rich economies. > In the IMF’s models, an AI bust costs the world economy almost twice what an AI boom adds: 1.1% of output lost by 2028, against 0.6% gained by 2029. > AI hardware trade has roughly tripled in value since 2019 because prices rose, not because more was shipped, with Taiwan and Korea supplying 62% of net exports and the US and China taking over 75% of net imports.
Source: Rohan Paul · x.comPublished · added here
