AI boom to beat electricity and PCs, $200B investment by 2025: Goldman Sachs
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Artificial intelligence could eventually have a bigger financial impact on the American economy than electricity and personal computers, according to economists at investment banking giant Goldman Sachs.
In an Aug. 1 investment
Goldman also noted the number of companies that have mentioned or integrated AI, with 16% of Russell 3000 companies mentioning AI in their earnings calls. Considering this figure is up significantly from less than 1% in 2016, the bank said this puts America on the front foot when it comes to innovation in AI.
“The U.S., meanwhile, is positioned as the market leader in AI technology, and American companies will likely be relatively early adopters.”
The economists noted that while the timing of the AI investment cycle is hard to predict, current business surveys suggest that AI will begin to have its most significant investment impact after 2025.
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