May 14, 2024

How AI Could Change the Economy

Advances in artificial intelligence are leading to a lot of conversations about how AI might transform the economy. While there are different estimates, Goldman Sachs projects that AI will start to boost U.S. GDP by 1.5% annually over the next 10 years.


In this episode of Buckingham Perspectives, Chief Investment Officer Kevin Grogan highlights the opportunities and challenges of the technology, as well as the investment implications. While AI has the potential to boost productivity and profitability across multiple sectors, it also raises questions about job displacement and regulation of the tools. Because it’s difficult to predict which industries will outperform in the future or how policymaking related to AI will unfold, we recommend staying diversified across sectors.

If you have any questions please feel free to drop us a note.

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Category

Investing

About the Author

Kevin Grogan

Chief Investment Officer

As Chief Investment Officer for Buckingham Wealth Partners, Kevin conducts investment research and writes articles on a wide range of topics, including retirement planning and investment policy. Kevin co-authored "The Only Guide You’ll Ever Need for the Right Financial Plan" with Larry Swedroe and Tiya Lim. This step-by-step handbook focuses on the art of investing by providing investors with information they can use to build a tailor-made investment strategy. Kevin holds an MBA from Saint Louis University and a bachelor’s of science in finance from Missouri State University in Springfield.

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