Nouriel Roubini, also known as Doctor Doom for accurately predicting the 2008 financial crisis, has now turned bullish, predicting a global economic uptick linked to the adoption of technology and artificial intelligence (AI), with China and the United States taking the lead.
Important points:
- Nouriel Roubini predicts that AI will drive the market, with future US growth reaching 4% by 2030, despite politics.
- Speaking at the Greenwich Economic Forum, Roubini pointed out that AI is not a bubble that will drive the technology market for the next 20 years.
- According to Roubini, the dynamism of American technology defies politics. With AI innovation, future economic growth is expected to reach 10% by 2050.
Nouriel “Doctor Doom” Roubini predicts global economy will soar as AI grows
While some analysts are pessimistic about the impact of increasing international penetration of artificial intelligence (AI), others believe that it will usher in an era of accelerated productivity and growth.
Nouriel Roubini, also known as “Doctor Doom” for his consistently pessimistic predictions about the future of the global economy, has been bullish on this, now predicting that AI will be one of the main drivers of growth. This new era of growth, supported by several drivers such as IA and semiconductors, will primarily benefit the United States and China, which are the main innovators in these fields.
Roubini, who famously predicted the 2008 financial crisis, envisions AI as an ever-evolving technology and not a bubble as many in the financial world fear. Speaking at the Greenwich Economic Forum in Hong Kong, he said:
“That fundamental story is the driving force for the next 10 to 20 years, whether it’s geopolitics, climate change or populism, and it’s positive for the world as a whole.”
According to Roubini, AI could boost the annual growth rate of the US economy to 4% by 2030, which could rise to 6% by 2040 and 10% by 2050, and this acceleration would be independent of geopolitical shocks like the current conflict in the Middle East.
“Eventually I think technology will become mainstream in the medium term, but we do a lot of stupid things that can cause a lot of damage in the short term.” he declared.
According to the SCMP, economists also ignore the relevance of political leadership in this new era, “Mickey Mouse” As president of the United States, the economy will continue to grow because the US technology sector has its own dynamism to ensure this growth rate.
