Doctor Doom Predicts AI-Powered Boom of World Economy
Key Takeaways:
Roubini, famous for predicting the 2008 financial crisis, assumes that AI is a technology that will keep evolving and is not a bubble, as many in the financial world fear. At the Greenwich Economic Forum in Hong Kong, he stated:
“That fundamental story – regardless of geopolitics, regardless of climate change, regardless of populism – is the driver for the next 10 to 20 years, and is a positive for the world at large”
For Roubini, AI might spur an annual growth of 4% in the U.S. economy by 2030, and this might climb 6% by 2040 and 10% by 2050, an acceleration that would be independent of any geopolitical shocks like the current Middle East conflict.
“I think, eventually, technology dominates over the medium term, but we can cause a lot of damage in the short run by doing lots of stupid things,” he declared.
According to SCMP, the economist also disregarded the political leadership’s relevance in this new era, stressing that even with “Mickey Mouse” as president of the U.S., the economy will keep growing because the U.S. tech sector has its own dynamism to ensure this growth rate.
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