What’s on your mind today? I want to make the argument that the coming innovations which AI will bring have already been “priced in” to the economic growth of the country and of the world. Like, the future productivity boosts from AI are already baked into the market’s expectations and growth forecasts? Yes, but in a deeper way than you suggest. It’s not that people today are looking at what AI might produce and pricing that into their forecasts. Instead, it’s something that’s been priced in for hundreds of years. Let’s go back to the 1700s, before the Industrial Revolution, when the GDP of the world was growing about 0.1% per year.”
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