AI and Wealth Creation
Wealth is created by increased productivity. It allows more goods to be produced more efficiently, thus, ceteris paribus, purchasing power increases as prices drop. With this productivity factor in mind, how much wealth is AI technology expected to generate in the coming years? According to a report by the consulting firm PWC, we can expect nearly $16 trillion to be added to the global GDP by 2030. That's almost like bringing another US economy online in under 15 years!
In this episode we discuss the report by PWC and what industries stand to benefit and how this tech could revolutionize our lives.
I love how you began: "Wealth is created by increased productivity." So many people need to learn this. So many people need to learn this.
Unfortunately, I think you're right. Too many people think of wealth as a fixed pie, one person's gain only come's at another's loss.