«Without the AI investment cycle, global growth would be significantly weaker – possibly even negative,» says Julien Lafargue, Chief Market Strategist at Barclays Private Bank. The United States in particular is benefiting from the billions being spent by major technology companies.
According to Barclays, between 50 and 75 percent of US economic growth can now be attributed directly or indirectly to AI investment.
The AI Train Keeps Rolling
For Lafargue, the boom is far from over. Although investment growth rates are likely to slow over time, he does not expect the trend itself to end anytime soon.
There are several reasons for this. Companies need to adopt AI to avoid falling behind their competitors. Investors want exposure to the development. At the same time, governments are supporting the expansion of the technology because of its strategic importance in the rivalry between the United States and China.
