I read that Elon Musk is predicting AI could push the USA's GDP growth from around 2% to 4% next year and he even left open the possibility of an even higher number.
Ok, I see how AI could really start helping companies produce more with fewer resources, the impact will likely spread beyond $NVDA and semis to the rest of the tech sector. In the future it will affect everything from manufacturing and healthcare to finance and transportation. The interesting part is what 4% growth could mean for markets and the timeline in and of itself. Stronger growth sounds bullish, but it could also keep inflation elevated and make rate cuts much harder to justify and further rate hikes much more likely.
My guess is Elon has the direction right, but the timeline may be optimistic and the growth a bit as well. AI will 100% accelerate economic growth but expecting that big of an impact to appear in the data next year is a huge call imo
I'm wondering if you guys think AI can double US GDP growth that quickly, or is this another case of Elon getting the future right but the timing wrong or do you totally disagree that AI will boost GDP at all.