Some analysts are concerned that AI market interest and the resulting spike in tech stocks will go the way of Bitcoin and the hula hoop. But Goldman Sachs claims humanity stands on the verge of an AI revolution – not me of course, I am sitting down until I have my second cup of coffee.
Goldman Sachs' Chief Global Equity Strategist Peter Oppenheimer said: "We are convinced that we are still in the early phases of a new technology cycle, which is poised to deliver additional strong performance."
Goldman Sachs forecasts a substantial rise in global investments in artificial intelligence, with the potential to reach $200 billion by 2025. This surge is linked to the substantial economic opportunities presented by generative AI, a subset of AI focused on generating content using large language models. Previous reports suggest that generative AI could contribute up to $4.4 trillion to the global economy.